The #MEME法案 MEME bill mainly targets the President, members of Congress, and other senior officials, as well as their spouses and children, restricting them from issuing or sponsoring securities, commodities, and meme coins such as cryptocurrencies. The introduction of the bill is closely related to Trump’s launch of the TRUMP coin. On January 18, Trump announced the launch of the eponymous meme coin TRUMP, which at one point had a market value controlled by his team of 80TRUMP that exceeded $70 billion, but then plummeted by 85%, causing losses to 200,000 retail investors.

Congressman Liccardo stated that Trump's actions are clearly unethical, raising concerns about transparency, insider trading, and negative overseas impacts. He also compared Trump's meme coin to similar actions by other leaders, such as the meme coin CAR from the Central African Republic and Argentine President Javier Milei's promotion of LIBRA. However, in the currently Republican-controlled Congress, the bill has little chance of passing. Liccardo referred to the bill as a "placeholder," suggesting that if the Democrats gain power in the future, it may be reintroduced and pushed for passage, serving as a symbolic protest against apparent corruption.