#MEMEAct O United States Congress is debating the “Modern Emoluments and Malfeasance Enforcement Act” (MEME Act), a bill aimed at prohibiting the president, vice president, members of Congress, and senior executive officials, as well as their spouses and dependent children, from issuing, sponsoring, or promoting digital assets, such as meme coins and stablecoins.

This proposal arises amid ethical concerns related to the crypto initiatives of former President Donald Trump and his family, including the launch of the meme coin $TRUMP and the stablecoin USD1. Critics argue that these actions may represent conflicts of interest and improper exploitation of public office for personal financial gain.

The MEME Act also provides for civil and criminal penalties for violations and allows harmed investors to sue public officials who financially benefit from the digital assets they promote.

While the bill faces resistance in a divided Congress, it highlights the growing attention to the intersections between politics and cryptocurrencies. The discussion surrounding the MEME Act reflects the need to balance innovation in the crypto sector with ethical standards in public service.