#MEMEAct

The MEME Act was introduced in response to concerns over potential conflicts of interest and ethical issues arising from public officials’ involvement in cryptocurrency ventures. Specifically, it addresses situations where officials might leverage their positions for personal financial gain through digital assets. 

🔍 Key Provisions

• Prohibited Activities: Federal officials and their immediate families would be barred from issuing, sponsoring, or promoting digital assets, including meme coins and stablecoins.

• Penalties: Violations could result in criminal and civil penalties, aiming to deter misuse of public office for personal financial benefit. 

• Private Right of Action: The bill would allow private investors to sue if they incur losses from digital assets endorsed or promoted by public officials, providing an additional enforcement mechanism.