#MEMEAct Sen. Chris Murphy, D-Conn., on Tuesday announced he had introduced the “Modern Emoluments and Malfeasance Enforcement Act,” or “MEME Act,” targeting federal officials who release meme coins.

Meme coins are a form of cryptocurrency with ironic or humorous appeal due to a connection to internet memes. President Donald Trump launched his own meme coin shortly before Inauguration Day and is now offering holders of the coin the chance to meet him at a Washington D.C. Gala.