#MEMEAct

The #MEMEAct—short for Modern Emoluments and Malfeasance Enforcement Act—has been introduced in Congress to prohibit U.S. presidents, vice presidents, members of Congress, and their immediate families from creating, endorsing, or promoting digital assets like meme coins and stablecoins. This legislative move follows concerns over former President Donald Trump's involvement in cryptocurrency ventures, including the promotion of a meme coin contest offering high-value incentives such as dinner with Trump and a White House tour for top holders of the $TRUMP coin. The act aims to eliminate potential conflicts of interest and restore public trust by preventing perceived exploitation of cryptocurrency for political gain.