#MEMEAct Objectives of the Law
Preventing Conflicts of Interest: The law aims to prevent officials from using their positions to gain personal financial benefits from digital assets.
Enhancing Transparency: The law enhances transparency in the financial dealings of government officials.
Protecting the Integrity of Institutions: The law seeks to maintain the integrity of government institutions by preventing the abuse of power for personal profit.
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🧾 Background of the Law
The MEME Act was introduced after former President Donald Trump launched a cryptocurrency known as $TRUMP, which sparked widespread controversy due to the substantial profits Trump and his family earned from it, in addition to offering exclusive benefits to holders of the currency such as access to special events.
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📜 Scope of the Law
Covered Officials: The law includes the President, Vice President, Members of Congress, and their immediate family members.
Covered Digital Assets: The law includes cryptocurrencies, meme coins, non-fungible tokens (NFTs), and any other digital financial instruments.
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🔍 Current Status
The bill was introduced in the U.S. Congress in February 2025 and has been referred to the relevant committees for review. It has not yet passed, but discussions about it are ongoing in political and media circles.
