MEME Act

The Modern Emoluments and Malfeasance Enforcement Act, if enacted, would ban the President, Vice President, Members of Congress, senior federal officials, and military leaders from engaging in or benefiting from the issuance, sponsorship, or promotion of securities, commodities, digital assets like cryptocurrency, and related financial instruments. The prohibition would extend to their spouses and dependent children and would apply during their term of service plus 180 days before and after.

Under this bill, violations could result in significant penalties including forfeiture of profits to the U.S. Treasury, fines, and imprisonment for up to five years. Enhanced penalties would apply if the prohibited activities involve bribery or insider trading. The Office of Special Counsel could also determine that other federal employees should be covered by these restrictions.

Currently, the bill has been introduced in the House and referred to committee for consideration. If enacted, it would create stricter financial conflict-of-interest rules for high-ranking government officials and their immediate families, intended to prevent them from using their positions for personal financial gain through investment activities.