WatchGov

119th Congress

H.R. 1712

MEME Act

  1. Introduced
  2. In committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor
Sam T. Liccardo(D-CA)
Introduced
Feb 27, 2025
Policy area
Government Operations and Politics
Committees
House Committee on House Administration; House Committee on Oversight and Government Reform; House Committee on the Judiciary
Official text
Introduced in House · Congress.gov page

Cosponsors (33)

Original cosponsors (18)

Added later (15)

Summary

Summary by the Congressional Research Service· describes the “Introduced in House” version

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.

Roll-call votes

No recorded votes on this bill.

Actions