#MEMEAct In response to the recent sharp declines of the TRUMP and MELANIA meme coins, California Representative Sam Liccardo has introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act.
The MEME Act was introduced in response to concerns over the launch of the TRUMP meme coin and MELANIA meme coin, associated with former President Donald Trump. Critics argue that such ventures could exploit public office for personal gain, leading to ethical and national security concerns.
🏛️ Legislative Status
This proposed legislation aims to prohibit public officials and their immediate families from issuing, sponsoring, or endorsing cryptocurrencies, securities, or commodities.
As of now, the MEME Act is a proposal and has not yet been enacted into law. Its progress through the legislative process will depend on various factors, including political support and potential amendments.