#MEMEAct

Democratic Senator Chris Murphy proposed a law prohibiting U.S. federal officials, including Trump, from promoting meme coins for personal gain.

The document, named the MEME Act, aims to curb the use of public office for enrichment through digital assets or securities.

The impetus was TRUMP, launched before Trump's inauguration on the Solana blockchain. Murphy called the token "an example of corruption":

"Trump has turned the crypto market into his personal Venmo account, where foreign oligarchs transfer millions for political services."