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119th Congress Government Operations and Politics

H.R. 1712: MEME Act

Introduced

  1. Introduced (completed)Feb 27, 2025
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Feb 27, 2025

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.

Read the full summary

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 the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

33

Who scored on this bill

6 points earned
  1. 1Sam Liccardo D-CA SponsorIntroduced, reached a cosponsor milestone2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.

History

  1. Feb 27, 2025Introduced in the House by Sam Liccardo.
Show the full action history (3 actions)
  1. Feb 27, 2025Introduced in House
  2. Feb 27, 2025Sponsor introductory remarks on measure. (CR H893)
  3. Feb 27, 2025Referred 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.