Consumer advocacy group Public Citizen claims that Donald Trump may have violated laws prohibiting solicitation of gifts by promoting his meme coin. The group is calling for a federal investigation into the matter.
Allegations against Donald Trump
Public Citizen sent a letter to the US Department of Justice and the Office of Government Ethics accusing Trump of potentially breaching laws by promoting his meme coin on social media, urging them to investigate any involvement of foreign state actors in buying the token.
Legal Aspects and History of the Meme Coin
According to a 2012 report, the US President is exempt from many gift-receiving restrictions but cannot solicit gifts or enforce them. Despite this, Trump announced his meme coin Trump on TruthSocial just days before taking office on January 20.
Uncertainty in Investigation and Political Consequences
The investigation into the meme coin is ongoing, and federal bodies have not concluded yet. However, the 2024 US Supreme Court decision gives the president practically immunity from prosecution for official acts, raising questions about the possibility of further violations if deemed official.
As the investigation continues, the public and watchdog groups emphasize the need for legal transparency and lawfulness concerning public figures like the former president.
