#MEMEAct

Washington (TNND) - Senator Chris Murphy, a Democrat from Connecticut, announced on Tuesday that he has introduced the "Modern Subsidies and Medical Negligence Act," or "MEME Act," which targets federal employees who issue meme coins.

Meme coins are a form of cryptocurrency that have satirical or humorous appeal due to their association with internet memes. Former President Donald Trump launched his own coin just before his inauguration, and he is now offering holders the chance to meet him at an event in Washington, D.C.

Senator Murphy stated in a video posted on X that these coins sometimes allow government officials to receive payments secretly from those dealing with the federal government.

The senator said, "Trump's meme coin is the most unethical and corrupt thing any U.S. president has ever done." He added, "It is an opportunity for Republicans and Democrats to come together and say that none of us, nor any member of the executive or Congress, should benefit from their position."