S. 1620: MEME Act

119th Congress · introduced 2025-05-06 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

federal

What does this mean?

Official title

MEME Act

Plain summary

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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

MEME Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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Officials and money

Sponsor: Sen. Murphy, Christopher [D-CT] · 3 cosponsors

Money: No cost estimate published yet. No linked contracts or vendors yet.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s1620.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>

Record fed-us-cong119-s1620 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills