#MEMEAct The MEME Act, or Modern Emoluments and Malfeasance Enforcement Act, is a proposed bill aimed at preventing federal officials, including the President and Members of Congress, from profiting off digital assets like meme coins. This legislation was introduced by Senator Chris Murphy and Representative Sam Liccardo in response to former President Donald Trump's $TRUMP meme coin, which raised concerns about corruption and pay-to-play politics ¹.

*Key Provisions:*

- *Prohibited Activities*: The bill prohibits federal officials from issuing, sponsoring, or endorsing digital assets, including meme coins, and from engaging in promotional activities that could benefit them financially.

- *Penalties*: Violators would face criminal and civil penalties, ensuring accountability and deterring potential abuse.

- *Scope*: The bill applies to a wide range of digital assets, including securities, commodities, and other financial assets, not just meme coins.

*Background:*

The $TRUMP meme coin was launched in January 2025, and its value surged after limited release, temporarily increasing Trump's net worth to over $50 billion. The coin's trading fees generated over $100 million for Trump and his family. Critics argue that this scheme undermines the legitimacy of the crypto industry and creates opportunities for corruption ¹ ².

*Support and Progress:*

The MEME Act has gained traction in both the House and Senate, with over a dozen representatives cosponsoring the bill. Senator Murphy and Representative Liccardo are pushing for its passage to prevent further exploitation and ensure accountability among federal officials ³ ².