#MEMEAct
The "Modern Emoluments and Malfeasance Enforcement Act," or MEME Act, is a legislative proposal introduced in 2025 by U.S. Senator Chris Murphy (D-CT) and Representative Sam Liccardo (D-CA). This bill aims to prohibit high-ranking federal officials—including the President, Vice President, members of Congress, senior executive branch officials, and their immediate families—from issuing, endorsing, or profiting from digital assets such as meme coins, stablecoins, and other cryptocurrencies.
The legislation seeks to prevent potential conflicts of interest and ensure that public officials do not leverage their positions for personal financial gain through digital asset ventures.
The impetus for the MEME Act stems from concerns over former President Donald Trump's involvement in cryptocurrency ventures. Reports indicate that Trump's family company, World Liberty Financial, launched a stablecoin and secured a $2 billion investment deal, raising fears about Trump financially benefiting from legislation he supports. Additionally, the Trump family's promotion of a meme coin contest, offering incentives like dinners with Trump and White House tours for top holders of the $TRUMP coin, has raised ethical and national security concerns.
The MEME Act would impose criminal and civil penalties on officials who violate its provisions, aiming to restore public trust and strengthen transparency by ending perceived exploitation of cryptocurrency for political gain. This legislative move reflects growing Democratic concerns over ethical conflicts and political influence in the emerging cryptocurrency landscape.
The introduction of the MEME Act has also impacted the legislative process for other cryptocurrency-related bills. Notably, the bipartisan GENIUS Act, which aimed to establish a comprehensive market structure for cryptocurrencies, has faced stalled momentum due to internal disagreements among Senate Democrats, who have expressed concerns that the bill inadequately addresses potential corruption and lacks sufficient safeguards.
