#MEMEAct

Connecticut Democratic Senator Chris Murphy announced on Tuesday that he has introduced the "Modern Emoluments and Malfeasance Enforcement Act," or "MEME Act," which targets federal officials who issue meme coins.

Meme coins are a form of cryptocurrency that carries an ironic or humorous appeal due to their connection with internet memes. President Donald Trump launched his meme coin shortly before inauguration day and is now offering holders the chance to meet him at a gala in Washington DC.

Senator Murphy stated in a video posted on X that these coins sometimes allow government officials to secretly receive payments from those doing business with the federal government.