#MEMEAct

Senator Chris Murphy, a Connecticut Democrat, announced Tuesday that he had introduced the “Modern Emoluments and Embezzlement Enforcement Act,” or “MEME Act,” targeting federal officials who issue meme coins.

Meme coins are a form of cryptocurrency with ironic or humorous appeal due to their connection to internet memes. President Donald Trump launched his own meme coin shortly before his inauguration and is now offering holders the chance to meet him at a gala in Washington, D.C.

Senator Murphy said in a video posted via X that these coins sometimes allow government officials to secretly receive payments from those who do business with the federal government.

“The Trump meme coin is the most immoral and corrupt thing a president of the United States has ever done,” the senator said. “This is an opportunity for Republicans and Democrats to come together and say that none of us—no member of the executive branch or Congress—should be able to profit from our office.”

Image taken from the web