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Prohibiting Public Officials from Private Financial Gain

This new law aims to prevent public officials from using their positions for personal financial gain. It introduces prohibitions on the promotion and sale of specific financial assets by officials and their close relatives, to protect citizens from dishonest practices and corruption. The goal is to increase public trust in government and ensure officials act in the public interest.
Key points
Federal officials, including the President, Vice President, members of Congress, and high-ranking employees and their families, are prohibited from promoting or selling certain financial assets like securities, cryptocurrencies, or tokens.
The ban applies during their term of service, as well as 180 days before it begins and 180 days after it ends.
Violations can result in civil penalties up to $250,000, disgorgement of illegal profits, and for serious offenses (e.g., bribery, insider trading), imprisonment up to 15 years and disqualification from public office.
Actions violating this law are considered unofficial acts, meaning no immunity protection applies.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1620
Sponsor: Sen. Murphy, Christopher [D-CT]
Process start date: 2025-05-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

MEME Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1620.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-06.

What are the main provisions?

Key points include:

  • Federal officials, including the President, Vice President, members of Congress, and high-ranking employees and their families, are prohibited from promoting or selling certain financial assets like securities, cryptocurrencies, or tokens.
  • The ban applies during their term of service, as well as 180 days before it begins and 180 days after it ends.
  • Violations can result in civil penalties up to $250,000, disgorgement of illegal profits, and for serious offenses (e.g., bribery, insider trading), imprisonment up to 15 years and disqualification from public office.
  • Actions violating this law are considered unofficial acts, meaning no immunity protection applies.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Murphy, Christopher [D-CT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Courts and Law Economy