#MEMEAct MEMEAct

MEME Act Introduced to Prevent Trump Memecoin ‘Rugpull’ U.S. House of Representative Sam Liccardo introduced the MEME Act Thursday to prohibit top federal officials and their families from launching memecoins like U.S. President Donald Trump’s eponymous token, which allegedly led to $2 billion in losses.

The recent introduction of the Modern Emoluments and Malfeasance Enforcement (#MEME ) Act by Congressman Sam Liccardo aims to prohibit U.S. presidents, members of Congress, and their immediate families from issuing or promoting digital assets, including meme coins. This legislative move follows controversies surrounding former President Donald Trump's involvement in cryptocurrency ventures, notably the launch of the $TRUMP coin, which reportedly led to significant profits for early investors and substantial losses for many others.