Source: Molly PloofkinsBloomberg reported that a majority of the attendees at the memecoin dinner were likely foreign nationals based on their connections to crypto exchanges. “US law prohibits foreign persons from contributing to US political campaigns,” said the letter.“However, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, opens the door for foreign governments to buy influence with the President, all without disclosing their identities.”Related: US lawmaker introduces anti-corruption bill ahead of Trump's dinnerTrump embraces crypto despite previous skepticismTrump’s embrace of crypto marks a sharp turn from his skepticism during his first term.
When asked about potential conflicts of interest, White House Press Secretary Karoline Leavitt said the president’s involvement was personal.“It is not a White House dinner,” she told reporters.“It’s not taking place here at the White House.”Related: Pictures give glimpse inside Trump’s memecoin holder dinnerTrump features presidential seal at private propertiesThis isn’t the first time Trump has featured the presidential seal at his private properties.
In a May 22 letter to the Justice Department, 35 House members asked the public integrity section acting chief, Edward Sullivan, to launch an inquiry over the memecoin dinner to determine whether it violated the federal bribery statute or the foreign emoluments clause of the US Constitution. Under the emoluments clause, a US president is barred from accepting any gift from a foreign state without the approval of Congress.
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Author / Journalist: Cointelegraph by Amin Haqshanas
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