35 members of the U.S. House of Representatives recently signed a letter to the U.S. Department of Justice, requesting an investigation into the private dinner party hosted by President Donald Trump on May 22 for holders of the TRUMP meme coin. The congressmen believe that this event may have violated the "Foreign Emoluments Clause" in the U.S. Constitution and provisions in federal anti-bribery laws.
Many members of Congress expressed concerns that most of the party attendees were foreign citizens. Hosting this non-public event could become a channel for foreign governments to secretly influence U.S. policy through access to the President or those close to the administration. This is considered a potentially serious risk to national security and transparency in political activities.
Additionally, the Democratic Party is currently advancing two bills to tighten regulations related to cryptocurrency within the federal government. The first bill aims to restrict high-ranking officials and their family members from accessing, trading, or holding digital assets such as cryptocurrencies. The second bill modifies the GENIUS Act, targeting stablecoin platforms associated with the Trump family, to ensure that cryptocurrency-related financial activities are not exploited for political purposes or personal interests.
According to legal experts, if the Department of Justice determines that the dinner was a form of foreign interest transfer to the sitting President, the matter could lead to a constitutional lawsuit. The investigation could expand to financial, ethical, and political impact aspects related to cryptocurrency use in government environments, especially when involving foreign citizens.
