#MEMEAct

The MEME law, proposed by Democratic legislators in the U.S., seeks to prohibit presidents, congress members, and high officials from issuing or benefiting from cryptocurrencies, especially "meme coins". It arises after the launch of the $TRUMP and $MELANIA coins by Donald and Melania Trump, which generated criticism for conflict of interest and possible corruption. The law imposes penalties for violations and requires the return of illicit profits. Although it faces resistance in Congress, it has received support from figures like Elizabeth Warren. The goal is to prevent abuses of power and regulate the political use of digital assets in government.