US senators Elizabeth Warren and Adam Schiff have raised concerns regarding President Trump’s memecoin, particularly after he announced a gala dinner and White House tour for significant holders of TRUMP tokens. In a letter to the acting director of the Office of Government Ethics, the senators called for investigations into potential conflicts of interest, fearing that such actions could allow foreign actors to influence the President's policies in exchange for financial gain. Warren emphasized the need for clear ethics guidelines and safeguards to prevent the presidency from being accessed for sale. Additionally, she urged the SEC chair to ensure that Trump's media company operates without political interference. The senators argued that Trump's actions may violate federal bribery laws and the Constitution's emoluments clauses. As speculation grows about the attendees of the May 22 dinner, which is to take place at Trump’s Washington golf club, the implications of these developments for ethics in government and cryptocurrency regulations are significant.

Source 🔗