,,ii #aaith ,,congress #ast ,session ,s4 #afbj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #f1 #bjbe ,mr4 ,murphy introduced the following bill2 which was read twice and referred to the ,committee on ,homeland ,security and ,governmental ,affairs ,a ,,bill ,to amend chapter #aca of title #e1 ,united ,states ,code1 with respect to prohibited financial transactions1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,modern ,emoluments and ,malfeasance ,enforcement ,act or the ,,meme ,act4 #b4 ,sense of ,congress ,it is the sense of ,congress that-- 7#a7 federally elected officials must not utilize those positions1 granted by the trust of the public1 for private financial gain2 7#b7 the issuance1 sponsorship1 or promotion of financial instruments by public office holders deprives the public of the honest services of the public office holders1 facilitates bribery by investors or purchasers1 and results in public exploitation and corrupt foreign influence2 and 7#c7 ,members of ,congress and the executive branch must not seek to use public office to benefit financially1 but rather those positions should be held in trust for the benefit of the public in the ,united ,states4 #c4 ,prohibited financial transactions 7a7 ,financial exploitation by public office holders 7#a7 ,in general ,chapter #aca of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 ,,iv ,financial exploitation by public office holders #acaea4 ,definitions ,in this subchapter3 7#a7 ,adjacent individual ,the term adjacent individual means-- 7,a7 each officer or employee in the executive branch holding a ,senior ,executive ,service position 7as defined in section #cacb7;a77#b772 7,b7 each member of a uniformed service whose pay grade is at or in excess of ,o-#g under section #bja of title #cg2 7,c7 each officer or employee in any other position in the executive branch determined by the ,office of the ,special ,counsel1 in consultation with the ,director of the ,office of ,government ,ethics1 to be of equal classification to a position described in subparagraph 7,a7 or 7,b72 or 7,d7 the spouse or dependent child of any individual described in subparagraph 7,a71 7,b71 or 7,c74 7#b7 ,covered asset ,the term covered asset means-- 7,a7 a security 7as defined in section #c7;a7 of ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 7,b7 a security future 7as defined in section #c7;a7 of ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 7,c7 a commodity 7as defined in section #a;a of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #a;a772 7,d7 a digital asset that can be sold for remuneration1 including a cryptocurrency1 a meme coin1 a token1 or a non-fungible token2 or 7,e7 any derivative1 option1 warrant1 mutual fund1 or exchange-traded fund of an asset described in subparagraphs 7,a7 through 7,d74 7#c7 ,covered individual ,the term covered individual means-- 7,a7 the ,president2 7,b7 the ,vice ,president2 7,c7 a public official 7as defined in section #bja7;a7 of title #ah72 or 7,d7 the spouse or dependent child of any individual described in subparagraph 7,a71 7,b71 or 7,c74 7#d7 ,dependent child ,the term dependent child has the meaning given the term in section #acaja4 7#e7 ,prohibited financial transaction ,the term prohibited financial transaction means the issuance1 sponsorship1 or promotion of a covered asset for pecuniary gain4 #acaeb4 ,prohibition on certain transactions 7a7 ,prohibition ,except as provided in subsection 7b71 a covered individual or an adjacent individual may not engage in or benefit from a prohibited financial transaction-- 7#a7 during the term of service of the covered individual or adjacent individual2 7#b7 during the #ahj-;day period ending on the date on which the service of the covered individual or adjacent individual commences2 or 7#c7 during the #ahj-;day period beginning on the date on which the service of the covered individual or adjacent individual is terminated4 7b7 ,adjacent individuals ,with respect to adjacent individuals1 nothing in this section shall be construed to limit the application of section #bjh of title #ah4 7c7 ,liability and immunity ,for purposes of any immunities to civil liability1 any conduct comprising or relating to a prohibited financial transaction under this section shall be deemed an unofficial act and beyond the scope of the official duties of the relevant covered individual or adjacent individual4 #acaec4 ,civil penalties 7a7 ,civil action ,the ,attorney ,general may bring a civil action in any appropriate district court of the ,united ,states against any covered individual or adjacent individual who violates section #acaeb7;a74 7b7 ,civil penalty ,any covered individual or adjacent individual who knowingly violates section #acaeb7;a7 shall be subject to a civil monetary penalty of not more than #bej1jjj4 7c7 ,disgorgement ,a covered individual or an adjacent individual who is found to have violated section #acaeb7;a7 in a civil action under subsection 7a7 of this section shall disgorge to the ,treasury of the ,united ,states any profit from the unlawful activity that is the subject of that civil action4 4 7#b7 ,clerical amendment ,the table of sections for chapter #aca of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 ,,subchapter ,,iv--,financial exploitation by public office holders #acaea4 ,definitions4 #acaeb4 ,prohibition on certain transactions4 #acaec4 ,civil penalties4 4 7b7 ,criminal penalties 7#a7 ,prohibited financial transactions ,chapter #aa of title #ah1 ,united ,states is amended by inserting after section #bbj the following3 #bba4 ,prohibited financial transactions 7a7 ,definitions ,in this section3 7#a7 ,adjacent individual ,the term adjacent individual means-- 7,a7 each officer or employee in the executive branch holding a ,senior ,executive ,service position 7as defined in section #cacb7;a77#b7 of title #e72 7,b7 each member of a uniformed service whose pay grade is at or in excess of ,o-#g under section #bja of title #cg2 7,c7 each officer or employee in any other position in the executive branch determined by the ,office of the ,special ,counsel1 in consultation with the ,director of the ,office of ,government ,ethics1 to be of equal classification to a position described in subparagraph 7,a7 or 7,b72 or 7,d7 the spouse or dependent child of any individual described in subparagraph 7,a71 7,b71 or 7,c74 7#b7 ,covered asset ,the term covered asset means-- 7,a7 a security 7as defined in section #c7;a7 of ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 7,b7 a security future 7as defined in section #c7;a7 of ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a7772 7,c7 a commodity 7as defined in section #a;a of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #a;a772 7,d7 a digital asset that can be sold for remuneration1 including a cryptocurrency1 a meme coin1 a token1 or a non-fungible token2 or 7,e7 any derivative1 option1 warrant1 mutual fund1 or exchange-traded fund of an asset described in subparagraphs 7,a7 through 7,d74 7#c7 ,covered individual ,the term covered individual means-- 7,a7 the ,president2 7,b7 the ,vice ,president2 7,c7 a public official 7as defined in section #bja7;a772 or 7,d7 the spouse or dependent child of any individual described in subparagraph 7,a71 7,b71 or 7,c74 7#d7 ,dependent child ,the term dependent child has the meaning given the term in section #acaja of title #e4 7#e7 ,prohibited financial transaction ,the term prohibited financial transaction means the issuance1 sponsorship1 or promotion of a covered asset for pecuniary gain4 7b7 ,benefit from prohibited financial transaction ,any covered individual or adjacent individual who-- 7#a7 knowingly violates any provision of section #acaeb7;a7 of title #e2 and 7#b7 through such violation-- 7,a7 causes an aggregate loss of not less than #a1jjj1jjj to #a or more persons in the ,united ,states2 or 7,b7 benefits financially1 through profit1 gain1 or advantage1 directly or indirectly through any family member or business associate of the covered individual or adjacent individual1 from the sale1 purchase1 or distribution of the covered asset issued in violation of section #acaeb7;a7 of title #e1 shall be fined under this title or imprisoned for not more than #e years1 or both4 7c7 ,bribery ,any covered individual or adjacent individual who-- 7#a7 knowingly violates any provision of section #acaeb7;a7 of title #e2 and 7#b7 directly or indirectly1 corruptly demands1 seeks1 receives1 accepts1 or agrees to receive or accept any thing of value personally or for any other person or entity1 in return for-- 7,a7 being influenced in the performance of any official act2 7,b7 being influenced to commit or aid in committing1 or to collude in1 or allow1 any fraud1 or make opportunity for the commission of any fraud1 on the ,united ,states2 or 7,c7 being induced to do or omit to do any act in violation of the official duty of such official or person1 shall be fined under this title or not more than #c times the amount of financial gain1 if any1 that the individual benefitted from relating to the prohibited conduct1 whichever is greater1 or imprisoned for not more than #ae years1 or both1 and may be disqualified from holding any office of honor1 trust1 or profit under the ,united ,states4 7d7 ,insider trading ,any covered individual or adjacent individual who knowingly violates section #acaeb7;a7 of title #e and1 in committing such violation1 knowingly violates section #aj7;b7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;j7b771 shall be fined under this title or not more than #c times the amount of financial gain1 if any1 that the individual benefitted from relating to the prohibited conduct1 whichever is greater1 or imprisoned for not more than #ae years1 or both1 and may be disqualified from holding any office of honor1 trust1 or profit under the ,united ,states4 7e7 ,liability and immunity ,for purposes of any immunities to civil and criminal liability1 any conduct comprising or relating to a prohibited financial transaction under this section shall be deemed an unofficial act and beyond the scope of the official duties of the relevant covered individual or adjacent individual4 4 7#b7 ,clerical amendment ,the table of sections for chapter #aa of title #ah1 ,united ,states ,code1 is amended by inserting after the item relating to section #bbj the following3 #bba4 ,prohibited financial transactions4 4