#MEMEAct The Modern Earnings and Misconduct Enforcement (MEME) Act, proposed by U.S. Senator Chris Murphy aims to regulate cryptocurrency activities of high-ranking officials, including the president, vice president, members of Congress, and senior executive officials, along with their immediate family members.

The Act seeks to prohibit these individuals from issuing or promoting cryptocurrencies, including meme coins, and from financially benefiting from them. Violators could face significant penalties, including fines up to $250,000 and imprisonment for up to five years. The legislation also demands that any profits gained from such activities be returned to the U.S. Treasury.

This initiative follows concerns raised by the launch of meme coins associated with political figures, such as the TRUMP meme coin. While a companion bill was introduced in the House of Representatives, the Act's legislative path remains uncertain.