Senator Chris Murphy, a Democrat from Connecticut, announced on Tuesday that he has introduced the "Modern Emoluments and Malfeasance Enforcement Act," or "MEME Act," aimed at prohibiting federal authorities from endorsing or promoting meme coins.
Meme coins are a form of cryptocurrency that have ironic or humorous appeal due to their connection with internet memes. President Donald Trump launched his own meme coin shortly before his inauguration and is now offering holders of the coin the chance to meet him at a gala event in Washington, D.C.
