Donald Trump recently launched a meme coin, raising questions about its legality and the potential implications for presidential power. Legal experts emphasize that while such actions are unprecedented, there are few existing laws governing the creation of cryptocurrencies by a sitting president. Trump has stated he is unfamiliar with much of the details but has acknowledged its success. Experts argue that the creation of the coin may effectively normalize similar activities, making it challenging for regulatory bodies like the SEC to act against others in the future. The CFTC, which oversees commodity-like assets, may not intervene unless clear harmful activities are evident. Ethical concerns abound, as this situation could invite attempts at political influence via cryptocurrency purchases. Notably, figures like Sen. Elizabeth Warren have called for investigations into Trump's actions, although the likelihood of substantive legal repercussions remains uncertain. Some experts posit that this marks a new presidential norm regarding financial entanglement with personal gain, raising questions about future conduct and influence.

Source 🔗