#MEMEAct

The #MEMEAct refers to two different concepts:

Legislative Proposal

The Modern Emoluments and Malfeasance Enforcement (MEME) Act is a proposed US law aimed at preventing government officials, including the President, Vice President, and Congress members, from launching or promoting digital assets like meme coins. This bill seeks to address potential conflicts of interest and unethical financial gains by public officials. Senator Chris Murphy introduced the bill, citing concerns over "crypto corruption" and the need for stricter oversight ¹.

*Key Provisions:*

- *Prohibited Activities*: Government officials and their families are barred from issuing, sponsoring, or endorsing digital assets.

- *Penalties*: Violators will face civil and criminal penalties, with retroactive effects.

Cryptocurrency Token

MEMEACT is also a meme-themed cryptocurrency token on the Solana blockchain. As of May 7, 2025, its market cap is approximately $2,890, with a circulating supply of around 997 million tokens.

*Token Details:*

- *Network*: Solana

- *Market Cap*: $2,890

- *Circulating Supply*: 997 million tokens

- *Number of Holders*: Approximately 120

Impact and Debate

The proposed law has sparked debate, with some arguing it will maintain integrity and transparency in government, while others see it as potentially stifling innovation and freedom in the crypto ecosystem ¹.