#MEMEAct The MEME Act is a proposed bill put forward by the Democratic Congress to prevent high-ranking government officials, including the president, from exploiting their positions for personal gain through digital assets such as cryptocurrency. Here are some details about the MEME Act¹:

- *Purpose*: This law aims to prevent public officials from exploiting digital assets for personal gain and to avoid conflicts of interest.

- *Prohibition*: The MEME Act will prohibit high-ranking officials, including the president, vice president, members of Congress, and senior executive branch leaders, as well as their spouses and dependent children, from profiting from securities, futures, commodities, or digital assets.

- *Penalties*: This law will impose criminal and civil penalties on federal officials found to be involved in financial activities that could benefit them personally.

- *Retroactive Provisions*: The MEME Act will also have retroactive provisions, meaning public officials who have promoted or invested in digital assets prior to the enactment of the law will face penalties.

An example case of concern is the launch of the meme coin $TRUMP by President Donald Trump, which is seen as exploiting his position for personal gain and causing significant losses for thousands of coin holders. The MEME Act is expected to prevent similar cases in the future.