#MEMEAct WASHINGTON (TNND) — Senator Chris Murphy, a Democrat from Connecticut, announced on Tuesday that he had introduced the “Modern Emoluments and Misappropriation Enforcement Act,” or “MEME Act,” aimed at federal officials who issue meme coins.

Meme coins are a form of cryptocurrency with an ironic or humorous appeal due to their connection to internet memes. President Donald Trump launched his own meme coin just before his inauguration and now offers its holders the opportunity to meet him at a gala in Washington D.C.

Senator Murphy said in a video posted via X that these coins sometimes allow government officials to receive payments secretly from those who do business with the federal government.

Trump's meme coin is the most immoral and corrupt thing a U.S. president has ever done,” said the senator. “This is an opportunity for Republicans and Democrats to come together and say that none of us, no member of the executive branch or Congress, should profit from their position.