US House Members Call for Investigation into Trump’s Memecoin Dinner
A group of US House Representatives is calling for an investigation into a dinner hosted by Donald Trump for his top memecoin investors. The representatives are concerned about potential foreign influence and violations of the US Constitution’s emoluments clause. This news comes amid ongoing discussions about crypto regulation and stablecoin legislation.
The Letter to the Justice Department
According to a report, 35 members of the House sent a letter to the Justice Department on May 22, urging an inquiry into whether the memecoin dinner violated federal bribery statutes or the Constitution’s foreign emoluments clause. The emoluments clause prevents a US president from accepting gifts from foreign states without Congressional approval.
The letter highlights concerns that the $TRUMP memecoin and the dinner event could allow foreign governments to exert influence over the President without disclosing their identities. “US law prohibits foreign persons from contributing to US political campaigns,” the letter stated.
Protests and Attendees
Prior to the dinner, which took place at Trump National Golf Club outside Washington, DC, a group of protesters, including Senator Jeff Merkley, gathered outside the venue. They held signs criticizing the event, labeling it an “illegal crypto party.”
While some attendees attempted to conceal their identities, Tron founder Justin Sun was reportedly present, along with other Trump supporters who shared their attendance on social media. A complete guest list has not been released.
Potential Impact on Legislation
Democratic lawmakers have proposed legislation to address what they are calling “Trump’s crypto corruption.” This comes as Congress is considering bills related to stablecoins and market structure. Representative Maxine Waters has introduced a bill to limit access to cryptocurrencies for US presidents, vice presidents, members of Congress, and their families. Senators are also planning to propose an amendment to the GENIUS Act to address Trump’s connection to World Liberty Financial, a crypto platform with ties to the president’s family.
Conclusion
The controversy surrounding Donald Trump’s memecoin dinner continues to unfold, with potential implications for both legal and legislative fronts. The call for a DOJ investigation and proposed legislation reflect growing concerns about the intersection of cryptocurrency, politics, and foreign influence. This situation is developing as discussions around Bitcoin and crypto regulation intensify.
Source: Cointelegraph
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