#MEMEAct
MEME Act: Preventing the Abuse of Power in Meme Coins**
Amid the significant rise of meme cryptocurrencies like **$TRUMP** recently launched by Trump, serious concerns have emerged regarding officials exploiting their positions for illicit gains. In response, some members of Congress proposed the **MEME Act** that prevents senior officials from issuing or promoting any cryptocurrency, and prohibits them from profiting from it, especially following recent scandals.
The law comes after Trump achieved massive gains from his coin while thousands of investors lost their money. However, it faces political and legal hurdles that may hinder its implementation, especially with some opposing government intervention in the cryptocurrency market. The question remains: Can the abuse of power be curtailed in the era of the digital economy?
