President Donald Trump faces investigations after speaking at a private event for leading investors in his $ Trump Memecoin while standing behind a lectern who has been in contact with the official presidential seal – a step that may violate the federal law.
The event Has occurred Thursday at the Trump National Golf Club In Virginia, Trump discussed 220 investors in his cryptocurrency project.
According to us LawThe president’s seal cannot be used in any way that may indicate approved or sponsorship of the government. Breaks may face fine or up to six months in prison.
Trump, who came to the club aboard a military helicopter, praised attendees and aimed at the Biden Administration’s Crypto Stance.
When asked about potential conflicts of interest, White House press secretary Karoline Leavitt Says The president’s involvement is personal. “It’s not a White House dinner,” he told reporters. “This is not happening here in the White House.”
Related: Photos gives a glimpse of the memecoin holder’s dinner of the Trump holder
Trump features a presidential seal in private ownership
This is not the first time Trump has featured the president’s seal in his private ownership. Forbes has already been reported Its use as golf markers in many Trump-owned clubs.
In a letter of May 22 to the Justice Department, 35 members of the house asked the public integrity section of the leader, Edward Sullivan, who Launch an inquiry into Memecoin dinner To determine whether it violated the federal bribery law or the foreign clause emoluments of the US Constitution.
Under the clause of emoluments, a US president is prohibited from receiving any gift from a foreign state without approved by Congress.
Bloomberg reported That most attendees at the Memecoin Dinner are likely to be foreign nationalities based on their connections to crypto exchanges.
“The US law forbids foreigners to contribute to US political campaigns,” the letter said. “However, the $ Trump Memecoin, along with the promotion of a dinner that promises exclusive access to the President, opens the door for foreign governments to buy the President’s influence, all without disclosing their identities.”
Related: US lawmaker introduced the anti-corruption bill before Trump’s dinner
Trump embraced the crypto despite the previous doubt
Trump’s embrace in Crypto marks a sharp turn from his doubt in his first term. $ Trump Memecoin, which was launched earlier this year, peeked at $ 74.34 before falling to $ 14.44 on May 22.
Visitors with high profile to Dinner includes the founder of Tron Justin SunEx-NBA player Lamar Odom, and Executives of Asian Crypto Sangrok Oh and Vincent Liu.
Sun, who was reported to have invested more than $ 40 million in the $ Trump token and spoke at dinner, also had a deep relationship with Trump’s adventures. He is the leading backer of World Liberty Financial, a Trump -related company that is currently under regulatory review.
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