The MEME Act (Modern Emoluments and Malfeasance Enforcement Act) bill, presented by Democrats in the U.S. House of Representatives, aims to prohibit high-ranking officials and their families from creating, promoting, or profiting from cryptocurrencies, including meme coins. The initiative arose after the launch of the $TRUMP and $MELANIA tokens associated with Donald and Melania Trump, which raised concerns about conflicts of interest and potential circumvention of the constitutional ban on receiving gifts from foreigners. The bill provides for criminal and civil liability, allowing investors to file claims for damages related to such assets.
