#MEMEAct

** Lawmakers Target Officials Profiting From Meme Coins with New Bill **

U.S. Senator Chris Murphy and Representative Sam Liccardo have introduced the Modern Emoluments and Malfeasance Enforcement * (MEME) Act * to combat federal officials profiting from digital assets like meme coins.

The legislation follows concerns surrounding the $TRUMP meme coin, launched by Donald Trump 3 days before his inauguration.

Despite having no inherent value, the TRUMP coin has reportedly generated over $100 million in trading fees for Trump and his family. Critics argue its anonymity allows foreign entities and wealthy individuals to potentially enrich Trump to gain influence. An announcement offering exclusive events, including a White House tour, to top coin holders caused the coin's value to surge, generating significant fees.

The * MEME Act * would prohibit federal officials, their spouses, and dependents from issuing, sponsoring, or endorsing digital assets and engaging in promotional activities for personal financial gain, imposing criminal and civil penalties for violations. Lawmakers described the situation as blatant corruption requiring legislative action.