Think Tank Urges DOJ to Investigate 'Trump Meme Coin'

The American think tank 'Public Citizen' has requested an investigation by the U.S. Department of Justice (DOJ) into the meme coin 'Official Trump (TRUMP)' issued by Donald Trump, the President of the United States. The request is based on the possibility that the meme coin may violate federal laws prohibiting gifts to public officials.

On the 5th (local time), Public Citizen sent a letter to the DOJ and the Office of Government Ethics (OGE), arguing that "it should be reviewed whether President Trump's direct promotion of the token constitutes illegal solicitation."

They stated, "Purchasing the Trump meme coin is akin to receiving a digital receipt on the blockchain," and "this could potentially be considered a financial contribution that personally benefits the President."

They further warned, "Public officials cannot solicit gifts for personal gain," and "the Trump meme coin could set a dangerous precedent for politicians to monetize their status by circumventing federal oversight."

The potential violation of the Constitution's Emoluments Clause by the meme coin was also highlighted. Concerns were raised that the anonymity of virtual asset transactions could allow foreign governments or entities to provide financial benefits to President Trump in undisclosed ways.

Public Citizen pointed out, "Meme coins have a structure that makes it difficult to determine if foreign actors have provided gifts to the President," and "such situations could pose serious ethical issues."