🚨 MEME Act Targets Political Crypto Conflicts
📜 What is the MEME Act?
The Modern Emoluments and Malfeasance Enforcement (MEME) Act, introduced by Rep. Sam Liccardo, sets out to ban U.S. Presidents, Members of Congress, and their immediate families from creating or promoting digital assets—especially meme coins. This bold move follows recent uproar over former President Donald Trump’s $TRUMP coin, which allegedly caused $2 billion in public losses.
⚠️ Why Now?
Trump’s involvement in launching a self-branded cryptocurrency raised serious ethical questions. While some early backers made hefty profits, many ordinary investors faced devastating losses. The controversy sparked concerns about public officials exploiting their influence for personal gain—and the risk of foreign interference through anonymous crypto investments.
⚖️ What the Act Proposes
The MEME Act aims to:
✋ Prohibit top federal officials & their families from issuing or endorsing crypto assets
💼 Enforce both civil & criminal penalties for violations
🛡️ Protect public trust and prevent abuse of power
✅ Why It Matters
There’s a strong case for keeping politics out of crypto:
Prevent conflicts of interest
Safeguard government integrity
Ensure crypto tech evolves in a transparent, public-serving way
This legislation marks a significant step toward ethical governance in the digital age.