#MEMEAct Senator Chris Murphy, Democrat from Connecticut, announced on Tuesday that he introduced the 'Modern Emoluments and Misappropriation Enforcement Act,' or 'MEME Act,' targeting federal authorities that issue meme coins.

Meme coins are a form of cryptocurrency with ironic or humorous appeal due to their connection with internet memes. President Donald Trump launched his own meme coin shortly before taking office and is now offering holders of the coin the chance to meet him at a gala event in Washington, D.C.