#MEMEAct The MEME Act, or Modern Emoluments and Malfeasance Enforcement Act, is a proposed legislation aimed at preventing federal officials, including the President and Members of Congress, from profiting off digital assets like meme coins. This bill is a direct response to former President Donald Trump's launch of the $TRUMP meme coin, which has raised concerns about corruption and conflicts of interest.

*Key Provisions of the MEME Act:*

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

- *Applicability*: The prohibition would extend to spouses, dependent children, and senior military officers, and would apply 180 days before and after an official's tenure.

- *Penalties*: Violators would face criminal and civil penalties, and private parties could file civil suits if they suffer harm.

*Rationale Behind the MEME Act:*

- *Preventing Corruption*: The bill aims to prevent federal officials from using their position to enrich themselves through digital assets.

- *Preserving Public Trust*: By prohibiting officials from profiting off their position, the bill seeks to maintain public trust in government.

*Current Status:*

- *Introduction*: The MEME Act was introduced by Senator Chris Murphy (D-CT) and Representative Sam Liccardo (D-CA) in the Senate and House of Representatives, respectively.

- *Bipartisan Support*: While the bill has been met with criticism from some, its sponsors hope for bipartisan support to pass the legislation ¹ ².$MEME