The Modern Emoluments and Malfeasance Enforcement (MEME) Act is a proposed U.S. legislation aimed at preventing federal officials and their immediate families from financially benefiting from digital assets, including meme coins. Introduced in February 2025 by Rep. Sam Liccardo (D-CA) , the bill has garnered attention due to its implications for political figures involved in cryptocurrency ventures.X (formerly Twitter)+17Save and Increase+17Coinpedia Fintech News+17Liccardo House+8The Daily Hodl+8Save and Increase+8
Key Provisions of the MEME Act
Scope of Prohibition: The act seeks to ban the President, Vice President, Members of Congress, senior Executive Branch officials, and their spouses and dependent children from issuing, sponsoring, or endorsing any security, commodity, or digital asset .EconoTimes+9Chris Murphy Senate+9ABC News+9
Post-Issuance Restrictions: Even after the issuance of such assets, the legislation would bar these officials from promoting or engaging in activities likely to result in personal financial gain.Chris Murphy Senate+1Decrypt+1
Penalties: Violations could lead to both criminal and civil penalties, emphasizing the seriousness of the proposed restrictions.X (formerly Twitter)+14Chris Murphy Senate+14International Business Times+14
Context and Motivation
The MEME Act was introduced following reports that former President Donald Trump and First Lady Melania Trump profited from their respective meme coins, raising ethical concerns about public officials leveraging their positions for personal financial gain . Rep. Liccardo highlighted the potential for such activities to undermine public trust, stating that what are now termed "rug pulls" in the crypto world were previously known as "corruption" during his tenure as a prosecutor .Binance+17Liccardo House+17EconoTimes+17The Daily Hodl+9International Business Times+9Cryptopolitan+9
Legislative Status
As of now, the MEME Act has been referred to multiple House committees, including Oversight and Government Reform, Judiciary, and House Administration, for further deliberation . Given the current political landscape, with a GOP-controlled Congress, the bill faces significant challenges in advancing through the legislative process .Congress.govCryptopolitan
For visual representations and discussions related to the MEME Act, you can explore the following images:
House Democrats Push to Ban Presidential Memecoins: An illustrative image depicting the legislative effort to curb political involvement in meme coins.Blockchain News, Opinion, TV and Jobs+19Cryptonews+19CoinGape+19
U.S. Proposes Bill to Ban Presidents and Lawmakers from Issuing Meme Coins: A graphic highlighting the proposed restrictions on federal officials concerning meme coins.International Business Times+3Cryptopolitan+3WBFF+3
Why PEPE Coin Will Never Hit $1: An analysis image discussing the speculative nature of certain meme coins.
Earn Free BTC Rewards: A promotional image related to cryptocurrency rewards, showcasing the broader crypto ecosystem.Binance
These visuals provide context and further insight into the ongoing discussions and debates surrounding the MEME Act and its implications for the intersection of politics and cryptocurrency.Cryptopolitan