The MEME Act—short for Modern Emoluments and Malfeasance Enforcement Act—is a legislative proposal introduced in the U.S. Congress in early 2025. Its primary aim is to prevent federal officials from leveraging their positions for personal financial gain through digital assets like meme coins and stablecoins.
🏛️ What Is the MEME Act?
Introduced by Rep. Sam Liccardo (D-CA) and Sen. Chris Murphy (D-CT), the MEME Act seeks to prohibit the President, Vice President, Members of Congress, senior Executive Branch officials, and their immediate families from:
Issuing, sponsoring, or endorsing digital assets, including meme coins and stablecoins.
Engaging in promotional activities likely to result in personal financial benefit from such assets.
Violations of this act would subject individuals to both civil and criminal penalties.
💥 Why Was It Introduced?
The act was prompted by concerns over former President Donald Trump's involvement in cryptocurrency ventures. Notably, the Trump family reportedly earned significant sums from a meme coin contest offering incentives like dinners with Trump and White House tours for top holders of the TRUMP coin. Such activities raised ethical and national security concerns, highlighting potential conflicts of interest and the exploitation of public office for personal gain.
