#BTCPrediction The MEME Act—short for Modern Emoluments and Malfeasance Enforcement Act—is a proposed U.S. legislative bill aimed at preventing public officials from creating, endorsing, or profiting from cryptocurrencies, particularly memecoins like $TRUMP, $PEPE, and $DOGE.

🏛️ Purpose of the MEME Act

Introduced by Democratic lawmakers, including Senator Chris Murphy and Representative Sam Liccardo, the MEME Act seeks to:

Prohibit elected officials (e.g., the President, Vice President, and members of Congress) and their immediate families from launching or promoting financial instruments such as cryptocurrencies, stocks, and futures.

Prevent conflicts of interest and unethical financial gains by ensuring that public servants do not exploit their positions for personal profit in the crypto market.

The legislation was spurred by concerns over politically affiliated tokens like $TRUMP, which reportedly experienced significant volatility, leading to substantial losses for many retail investors while benefiting insiders.

📊 Impact on the Crypto Market

The introduction of the MEME Act has led to notable market reactions:

$MEME trading volume