#MEMEAct Senator-Democrat Chris Murphy introduced a bill called the Modern Emoluments and Malfeasance Enforcement Act (MEME Act), which prohibits the president, vice president, members of Congress, and their immediate family members from issuing, promoting, or profiting from meme coins, such as $TRUMP, $PEPE, and $DOGE.

The purpose of the bill is to prevent conflicts of interest and abuses of power in the cryptocurrency sector.