#MEMEAct This concerns a bill proposed in the House of Representatives of the United States Congress. The main goal of the MEMEAct is to prohibit government officials from creating or promoting digital assets, such as meme coins, as well as profiting from them.

The bill was developed due to concerns that politicians may use their official position for personal gain by issuing and promoting cryptocurrencies. In particular, the impetus for developing the MEMEAct was the issuance of meme coins associated with President Donald Trump.

Key provisions of the MEMEAct include a ban for federal elected officials and their close relatives on:

✔️ Issuing

✔️ Sponsoring

✔️ Approving any digital assets, securities, or commodities.