S. 1620 · 119th Congress
MEME Act
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D
MurphySponsor3 cosponsors · 3 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Modern Emoluments and Malfeasance Enforcement Act or the MEME Act
What it does: CRS summary · Introduced in Senate · May 6, 2025
Modern Emoluments and Malfeasance Enforcement Act or the MEME Act
This bill prohibits the President, the Vice President, Members of Congress, those holding Senior Executive Service positions, admirals, generals, and other federal public officials from engaging in or benefiting from the issuance, sponsorship, or promotion of certain assets. The spouse and dependent children of such an official are also covered by the prohibition.
Assets covered by the bill are securities, security futures, commodities, digital assets such as cryptocurrency or a meme coin, as well as derivatives, options, warrants, mutual funds, or exchange traded funds of the preceding assets.
The prohibition applies to (1) such officials during their term of service and for 180 days prior to and after their service, and (2) the spouse and dependent children of such an official during that same period.
Civil and criminal penalties under the bill include disgorging (giving) to the Treasury any profits from prohibited transactions, fines, and imprisonment for up to five years. The bill provides additional penalties for such prohibited activities if they involve bribery or insider trading.
The U.S. Office of Special Counsel may also determine that federal employees or officers serving in other positions are covered by the prohibition.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: MEME Act
Also known as: Modern Emoluments and Malfeasance Enforcement Act
Latest action (May 6, 2025): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 6, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.