#MEMEAct

The #MEMEAct refers to two different proposals:

Legislative Proposals

- *The Modern Emoluments and Malfeasance Enforcement (MEME) Act*: This bill, introduced by Senator Chris Murphy, aims to ban top US officials, including the President, Vice President, and Congress members, from launching, promoting, or profiting from financial instruments like cryptocurrencies and meme coins. The proposal targets potential conflicts of interest and unethical gains by public officials.

- *The Monetization for Entertaining Media Expression Act*: This proposed legislation seeks to protect digital creators' rights by clarifying fair use boundaries and ensuring fair compensation for viral content. It introduces a "Creator Royalty Fund" to distribute micro-royalties to original meme creators.

Cryptocurrency Token

- *MEMEACT Token*: A meme-themed cryptocurrency token on the Solana blockchain with a market cap of approximately $2,890 and a circulating supply of around 997 million tokens.

Impact and Debate

The #MEMEAct has sparked debate, with some arguing it could prevent abuse of power and maintain government integrity, while others see it as potentially stifling innovation and limiting participation in the crypto ecosystem ¹.