#MEMEAct
Legislative Initiative Against Conflicts of Interest in the Cryptocurrency Sector
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🧾 What is the MEME Act?
The MEME Act (Modern Emoluments and Malfeasance Enforcement Act) is a bill introduced by Senate Democrats on May 6, 2025. It aims to prohibit presidents, vice presidents, members of Congress, and their close relatives from creating, promoting, or investing in digital assets, such as meme coins and stablecoins. This move is a response to concerns about potential conflicts of interest and ethical violations in the cryptocurrency sector.
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🔍 Reasons for the Initiative
The bill emerged amid reports of the active involvement of former President Donald Trump and his family in cryptocurrency projects. In particular, it concerns:
$TRUMP — a meme coin, the promotion of which included promises such as dinner with Trump and a tour of the White House for the largest token holders.
World Liberty Financial — a cryptocurrency company linked to Trump that received investments of $2 billion from a firm in Abu Dhabi.
These actions raised concerns about the possible use of political influence for personal gain and potential violations of the U.S. Constitution.
Legislative Initiative Against Conflicts of Interest in the Cryptocurrency Sector
---
🧾 What is the MEME Act?
The MEME Act (Modern Emoluments and Malfeasance Enforcement Act) is a bill introduced by Senate Democrats on May 6, 2025. It aims to prohibit presidents, vice presidents, members of Congress, and their close relatives from creating, promoting, or investing in digital assets, such as meme coins and stablecoins. This move is a response to concerns about potential conflicts of interest and ethical violations in the cryptocurrency sector.
---
🔍 Reasons for the Initiative
The bill emerged amid reports of the active involvement of former President Donald Trump and his family in cryptocurrency projects. In particular, it concerns:
$TRUMP — a meme coin, the promotion of which included promises such as dinner with Trump and a tour of the White House for the largest token holders.
World Liberty Financial — a cryptocurrency company linked to Trump that received investments of $2 billion from a firm in Abu Dhabi.
These actions raised concerns about the possible use of political influence for personal gain and potential violations of the U.S. Constitution.
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