#MEMEAct

On May 6, 2025, U.S. Senator Chris Murphy (D-Conn.) introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act, aiming to prohibit federal officials, including the President, Vice President, Members of Congress, and senior Executive Branch officials, from issuing, sponsoring, or endorsing digital assets like meme coins. This legislation responds to concerns over potential conflicts of interest and corruption, notably following reports of President Donald Trump's involvement with a meme coin that offered exclusive access to top holders. Murphy emphasized the need to prevent public officials from profiting off their positions through such digital assets, advocating for bipartisan support to uphold ethical standards in government.