The main purpose of the Modern Emoluments and Malfeasance Enforcement Act, also known as the MEME Act, is to prevent financial exploitation by public officials. The legislation aims to ensure that elected officials and certain government employees do not use their positions for personal financial gain, thereby protecting public trust and integrity in government. Key provisions of the MEME Act include a clear definition of prohibited financial transactions, which are defined as the issuance, sponsorship, or promotion of specific financial assets for profit.