#MEMEAct The MEME Act, or Modern Emoluments and Malfeasance Enforcement Act, is a proposed bill aimed at preventing government officials, including the President and Congress members, from profiting off digital assets like meme coins. This legislation was introduced by Senator Chris Murphy and Representative Sam Liccardo in response to former President Donald Trump's launch of the $TRUMP meme coin, which sparked controversy and raised concerns about corruption and financial improprieties ¹.

*Key Provisions:*

- *Prohibited Activities*: The bill would bar government officials from issuing, sponsoring, or endorsing digital assets, securities, and commodities.

- *Penalties*: Officials who violate the bill would face criminal and civil penalties, including returning any profits made from meme coins.

- *Retroactive Element*: The bill would target assets issued before its enactment, potentially forcing Trump to give up profits from his token launch.

*Purpose and Impact:*

The MEME Act aims to prevent government officials from exploiting their positions for personal financial gain through meme coins. It also seeks to protect investors and maintain the integrity of the market. However, the bill faces significant hurdles, particularly due to lack of bipartisan support ¹ ².

*MEME Act Token:*

There's also a meme coin called MEMEACT, trading on Raydium with a current price of $0.000004507. Its 24-hour trading volume is reported to be $0.03544, with a liquidity pool of $7,605.44 ³.

It's essential to note that the MEME Act's success is uncertain, and its passage may depend on future legislative efforts and changes in the political landscape ⁴.