Public Citizen Calls for DOJ Probe into Trump’s Meme Coin
Government Supervision Group Citizens have filed formal complaints with the Ministry of Justice and the Government Ethics Office About President Donald Trump’s launch Meme coins.
The group is urging an investigation into whether Trump violates federal law by promoting and levying money on its official Trump meme coins.
Complaint filed Wednesday quotes Trump’s social media posts on X (formerly Twitter) and the Truth Society. According to submission, the U.S. President uses these platforms to promote Trump Coin And encourage supporters to send money.
Additionally, citizens claim that these positions are reshared on January 20 and January 21 Not long after Trump’s opening. The group believes that this constitutes a possible violation of federal law that prohibits the president from soliciting personal gifts.
“The President collects funds from the public from the personal enrichment of the public will be abusive treatment of the presidency. The Justice Department and the Office of Government Ethics should attribute it to the American people to thoroughly investigate whether Donald Trump’s bidding violates the law, if appropriate action to stop it,” the report excerpt reada financial services advocate Bartlett Naylor, citing public citizens.
The complaint also called on Trump’s official website to rely on “Meme Coins” to point out that contributions to the project were purely in exchange for digital receipts. According to the advocacy group, this shows that the money received has nothing to do with any tangible product or service.
Citizens are concerned that the funds collected may benefit directly from Trump and may violate federal ethics laws. In addition, the complaints raise constitutional issues.
It is worth noting that the U.S. Constitution prohibits any president from accepting money or valuable items of foreign resources. Given the decentralized and anonymous nature of crypto transactions, it is not easy to determine whether foreign participants are buying Trump’s meme coins.
According to the complaint, this creates possible countries Safety and foreign policy risks.
Previously called for investigation of Trump meme coins
The latest complaint comes after a review of Trump-related cryptocurrencies. Two weeks ago Senator Elizabeth Warren Call for federal censorship of Trump Melania Meme coins. As Beincrypto reported, she warned of potential regulatory and moral violations.
At about the same time Democrats demand ethics investigation Trump is involved in financial transactions related to meme coins. They cite his concerns about his connection to the world’s free finance.
“The growing scope of President Trump and the growing scope of the Trump Organization – the commitment to financial entanglement and effort is disturbing.” Write Gerald Connolly, the United States representative.
Despite these growing concerns, Trump has recently Rejecting knowledge of meme coins. However, this denial is a further speculation about his participation due to the significant market fluctuations in the value of the coin.
However, public interest in Trump meme coins has surged. A recent survey found More than 40% of Trump meme coin holders are first-time investorsindicating the strong attraction of coins among inexperienced traders. Meanwhile, World Free Finance (WLFI), Trump’s defi Adventure, dramatic Increase sales After Trump meme coin was launched.
Further analysis of blockchain transactions also reveals further analysis of the issue of centralization. Recent chain analysis reports found 94% of Trump and Melania tokens are held by only 40 wallets. This raises questions about potential price manipulation and internal advantages.
In addition to moral and regulatory issues, Trump’s meme coin launch has prompted discussions on its legal and tax implications. Cryptocurrency experts warn that such adventures could lead to important Tax liabilities for Trump and investors.
Additionally, if the investigation finds that a tender caused by Trump’s meme violates federal law, a citizen complaint indicates immediate action. These may include termination of sales, refund of funds and imposing other fines.
The Ministry of Justice and the Government Ethics Office have not responded to the filing.
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