#MEMEAct

U.S. Senator Chris Murphy announced he will propose the “MEME Act” to ban the president or members of Congress from issuing Meme coins, calling “Trump Coin the biggest corruption scandal in White House history.”

A blanket ban might be too sweeping, but strict disclosure requirements, recusals from related legislation, and possibly limits on direct promotion would be reasonable. There’s a high risk of manipulation and grift when meme coins intersect with political personalities, particularly if the public views it as self-dealing. The “Trump Coin” situation—if true—exemplifies that risk.