#MEMEAct

The Modern Emoluments and Malfeasance Enforcement Act, or MEME Act, seeks to prevent federal officials from using their position to profit from memecoins, according to Democratic Senator Chris Murphy in a statement on May 6.

If approved, the MEME Act would prohibit the president, vice president, members of Congress, senior executive officials, their spouses and children from issuing, sponsoring, or promoting a security, future, commodity, or digital asset, according to the bill's description.