MEME Act
House Bill Would Bar President, Top Officials from Promoting Stocks and Crypto Under MEME Act
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Would bar the President, Vice President, and other federal officials (plus spouses and dependent kids) from issuing, sponsoring, or promoting investments for personal profit.
- Covers many assets, including stocks, commodities, and digital assets like cryptocurrency, meme coins, tokens, and non-fungible tokens.
- Applies during time in office, plus the 180 days before starting and 180 days after leaving the job.
- Lets the Justice Department sue for penalties up to $250,000 and requires officials to pay back (disgorge) profits to the U.S. Treasury.
- Creates possible criminal penalties (up to 5 years in prison) for knowing violations tied to big public losses, personal gain, bribery, or insider trading, and also allows harmed investors to sue.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Sponsor introductory remarks on measure. (CR H893)
Votes
No votes have been recorded for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
MEME Act
Data Sources
Sponsor
Cosponsors
(33)Analysis generated by AI. Always verify with official sources.