#MEMEAct

WASHINGTON (TNND) — 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.

Sen. Murphy said in a video posted via X these coins sometimes enable government officials to secretly receive payments from those who are doing business with the federal government.

“Trump’s meme coin, it’s the most unethical, the most corrupt thing a president of the United States has ever done,” the senator said. “This is a chance for Republicans and Democrats to come together and say non of us, no member of the executive branch, no member of Congress, should be able to profit off of their position.”