#MEMEAct

In May 2025, a bill called the "Modern Emoluments and Malfeasance Enforcement Act" (MEME Act) was introduced in the United States Congress, aimed at prohibiting high-ranking federal government officials, including the president, vice president, congress members, and their direct family members, from engaging in the issuance, promotion, or sponsorship of digital assets such as cryptocurrencies. This initiative was driven by the controversy generated by former president Donald Trump, who launched the meme coin $TRUMP just days before assuming office again. The token generated over 320 million dollars in commissions and was actively promoted by Trump, even offering incentives like exclusive dinners for the largest holders. Democratic lawmakers believe that this practice could represent a "pay-to-play" scheme, favoring those seeking to influence the government through financial incentives, and potentially violating ethical standards. The MEME Act seeks to establish civil and criminal penalties against these practices, in order to prevent conflicts of interest and preserve the integrity of public service in the face of the growing prominence of digital assets.