Congressman Dan Goldman Works to Prevent Federal Officials from Issuing Digital Assets and Securities

Congressman Dan Goldman (NY-10) joined Congressman Sam Liccardo (CA-16) in introducing the Modern Emoluments and Malfeasance Enforcement (MEME) Act to prevent corrupt elected officials and lawmakers from abusing their position to enrich themselves or others. The legislation comes amid ethical concerns following President Trump’s meme coin, $TRUMP. Some 800,000 retail investors lost at least $2 billion when early insider investors quickly sold their $TRUMP coin after its issuance.  

The MEME Act prohibits the President, Vice President, Members of Congress, senior Executive Branch officials, and their spouses and dependent children from issuing, sponsoring, or endorsing a security, future, commodity, or digital asset.  After the asset’s issuance, the proposal would bar federal officials from engaging in the promotion or other conduct likely to benefit themselves financially. The legislation introduced criminal and civil penalties for violators and prohibits efforts to further profit from an asset issued before the bill's enactment. 

Congressman Goldman remains committed to protecting democracy from those who wish to undermine and destroy it. In November 2024, Congressman Goldman cosponsored the ‘Security Clearance Review Act,’ which would reform the process by which security clearances are approved for political appointees in the Executive Office of the President (EOP). The bill comes amid recent reports suggesting President-elect Donald Trump and his advisors intend to bypass traditional background checks and grant security clearances to Trump’s political appointees.