#MEMEAct WASHINGTON (TNND) — Senator Chris Murphy, a Democrat from Connecticut, announced on Tuesday that he has introduced the "Modern Rewards and Anti-Office Crime Act" or "MEM Act," aimed at federal officials issuing meme coins.

Meme coins are a form of cryptocurrency with an ironic or humorous tone due to their association with internet memes. President Donald Trump launched his own meme coin shortly before Inauguration Day and is now offering coin holders the opportunity to meet him at a gala dinner in Washington.