$BTC The #MEMEAct, or the Modern Wage Enforcement and Abuse Act, was introduced by Senator Chris Murphy to curb financial misconduct by federal officials. It prohibits public officials and their families from issuing or promoting financial instruments like cryptocurrencies, NFTs, or securities for personal gain. Violators will face civil penalties of up to $250,000 and criminal charges for damages exceeding $1 million. Sparked by concerns over meme coins like $TRUMP, this bill aims to prevent officials from exploiting their public office for profit. While some praise its intent, others view it as a restriction. The #MEMEAct reflects the increasing scrutiny of digital assets in politics.