#MEMEAct The MEME Act (Modern Emoluments and Malfeasance Enforcement Act) is a legislative proposal introduced in February 2025 in the U.S. House of Representatives by Congressman Sam Liccardo and other Democrats. Its main objective is to prohibit high-ranking public officials—including the president, vice president, members of Congress, and their close family members—from issuing, sponsoring, or promoting digital assets such as cryptocurrencies, tokens, memecoins, or NFTs for personal profit.
Scope of the MEME Act
Specific prohibitions: The law seeks to prevent public officials and their immediate family members from participating in the creation or promotion of digital assets for profit.
Retroactive application: The legislation would apply retroactively, which could affect previous initiatives, such as the $TRUMP and $MELANIA tokens launched by Donald Trump and his wife shortly before his inauguration in January 2025.
Sanctions: Civil and criminal penalties are contemplated. If an official violates this law and causes losses exceeding one million dollars to the public, they could face criminal charges.
Opinions and controversies
The proposal has generated significant debate:
In favor: Advocates argue that it is a necessary measure to avoid conflicts of interest and corruption, ensuring that public officials do not use their position for personal gain in speculative markets.
Against: Critics argue that the law could be excessive and limit officials' participation in legitimate technological and financial innovations.
International context
Although the MEME Act is specific to the U.S., it reflects a global trend towards regulating the involvement of public officials in digital assets. In other countries, such as Spain, the dissemination of memes may have legal implications if they infringe copyright, defame, or incite hatred.
Conclusion
The MEME Act represents an effort to establish clear boundaries between public duties and personal financial interests in the digital realm. Its implementation and consequences will depend on legislative debate and how technological innovation is balanced with ethics in public service.