S. 1620 · Where this bill is now
In committee
Introduced in the Senate, May 6, 2025
What this bill does
In plain words · AI-written from the official summaryRestricts federal officials from promoting investments
Ever wondered if a politician might push an investment just to make money from it. This bill would stop high-ranking federal officials—the President, Vice President, Congress members, senior executives, generals, and admirals—from issuing, sponsoring, or promoting certain investments. The banned assets include stocks, cryptocurrencies, meme coins, options, mutual funds, and similar financial products. The rule would apply during their time in office plus 180 days before and after, and it also covers their spouses and dependent children.
How it affects you
This mainly affects the federal officials and their families who are restricted from these activities. For the rest of us, the change means certain high-ranking government officials would face legal consequences—including fines, disgorgement of profits, or up to five years in prison—if they're caught benefiting from investments they promote while in office or around their service dates.
Read the official 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 AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 1620
A BILL
MEME Act
Sponsor: Sen. Christopher Murphy (D-CT) · Introduced May 6, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action May 6, 2025: “Read twice and referred to the Committee on Homeland Security and Governmental Affairs.”