#MEMEAct

**#MEMEAct: The attempt to prohibit politicians from promoting memecoins in the U.S.**

The **MEME Act** (Modern Emoluments and Malfeasance Enforcement Act) is a bill introduced by Democrats in the U.S. Congress that aims to **prohibit politicians and their families from issuing, promoting, or benefiting from cryptocurrencies**, especially memecoins like the controversial **$TRUMP** associated with former President Donald Trump.

### **What does the MEME Act propose?**

1️⃣ **Broad prohibition**: Would affect the president, vice president, congress members, and high officials, preventing them from creating, endorsing, or investing in digital assets.

2️⃣ **Retroactive sanctions**: Includes clauses to recover profits gained before the law, targeting cases like the $TRUMP token directly.

3️⃣ **Right to sue**: Would allow investors affected by political promotions to sue for damages.

### **Origin: The $TRUMP controversy**

The push for the law arises after the launch of the memecoin **$TRUMP**, which surged **1,200%** before collapsing, leaving thousands of investors with losses. Critics like congressman **Sam Liccardo** (author of the bill) argue that these schemes are "financial exploitation" and could hide **insider trading** or foreign influence.

### **Political barriers**

- The MEME Act faces **Republican resistance**, given the party's control in Congress and its pro-crypto stance.

- The crypto industry is divided: some support measures against conflicts of interest, but others fear excessive regulation.

### **Potential impact**

- If passed, it would affect future token launches linked to political figures.

- Could set a global precedent for regulating the relationship between politicians and crypto.

**Will the MEME Act pass?** It is unlikely in the short term, but it reflects a growing concern over the use of crypto assets for political purposes. Meanwhile, tokens like $TRUMP continue to operate, albeit under scrutiny.