MEME Act Law: Protecting Politics from the Exploitation of Digital Currencies

A new American bill known as the MEME Act (short for Modern Emoluments and Malfeasance Enforcement Act) has been introduced with the aim of preventing high-ranking government officials, such as the President, Vice President, members of Congress, and senior state employees, from issuing, promoting, or profiting from digital currencies, particularly Meme Coins.

This legislation came in response to significant controversy after former President Donald Trump launched a digital currency bearing his name, which raised concerns about conflicts of interest and the exploitation of political office for personal financial gain.

The proposed law stipulates strict penalties, including fines and the return of illicit profits, and aims to maintain the integrity of the political process and prevent the politicization of digital currency markets.