#MEMEAct 🏛️ 1. Legislative Proposal: Modern Emoluments and Malfeasance Enforcement (MEME) Act

Introduced by Democratic Congressman Sam Liccardo in February 2025, the MEME Act is a legislative proposal aimed at preventing U.S. public officials and their families from profiting from digital assets, including meme coins. The bill was introduced in response to concerns over potential conflicts of interest and exploitation of public office for personal gain, particularly following the launch of the $TRUMP and $MELANIA meme coins associated with former President Donald Trump and First Lady Melania Trump.

Key Provisions:

Prohibition on Issuance and Endorsement: Bars elected officials, including the president, vice president, members of Congress, and senior executive officials, along with their spouses and dependent children, from issuing, promoting, or financially benefiting from digital assets, securities, or commodities.

Retroactive Measures: Requires individuals to forfeit any illicit gains made from such activities prior to the bill's enactment.

Penalties: Imposes criminal and civil penalties, including fines and imprisonment, for violations.

Broader Scope: Extends to other financial instruments that could present conflicts of interest.

While the MEME Act has garnered support from several Democratic lawmakers, it faces significant challenges in the Republican-controlled Congress and is not expected to pass into law in the immediate future. However, it serves as a symbolic measure highlighting concerns over ethical standards and transparency in the digital asset space.