#MEMEAct

MEMEAct is an acronym for "Modern Privileges and Misconduct Enforcement Act." It was introduced in the U.S. House of Representatives on February 27, 2025. The aim of this law is to prevent elected federal officials and other officials from issuing, sponsoring, or promoting digital assets and securities for financial gain.

This law comes in the wake of the launch of meme coins linked to prominent political figures, raising concerns about potential conflicts of interest and the exploitation of public office for personal gain. The MEMEAct seeks to address these concerns by deeming any conduct related to a prohibited financial transaction as "informal conduct" and outside the scope of official duties for purposes of liability and civil immunity.

The law specifically aims to prevent cases such as former President Donald Trump and his wife Melania Trump issuing their own meme coins. Supporters argue that such activities can lead to corruption and bribery, and that controls should be in place to ensure the integrity of public officials and protect investors.

Despite its introduction, the MEMEAct is not expected to pass into law in the near future, given the Republican control of both the House of Representatives and the Senate. However, it highlights the growing concerns about the intersection of digital assets and politics and sparks a debate about the ethical boundaries of public officials in this area.