The nonprofit organization Public Citizen has urged the US Department of Justice and the Office of Government Ethics to launch an investigation into the TRUMP meme coin, linked to Donald Trump, over potential violations of federal corruption laws.

My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025

Activists pointed out that while rules permit the president to receive “gifts,” they prohibit prompting or accepting them as compensation for official actions.

According to the letter from Public Citizen, promoting his own token before and after the inauguration may constitute a violation of the section regarding intentional solicitation of gifts for personal enrichment.

The authors emphasized that the current US president is the primary owner and beneficiary of the project through his affiliate, The Trump Organization, specifically CIC Digital LLC.

They noted that the tokens themselves are “not an investment vehicle or security,” according to the official TRUMP website. Instead of a tangible product, the buyer receives a “digital receipt,” making the process more akin to a donation with blockchain confirmation.

“It appears Trump is not asking for money in exchange for investments or tangible products (like a Bible, sneakers, or a guitar). He is asking for money in exchange for nothing—essentially requesting a gift that would bring him personal benefit,” the authors of the letter argued.

Representatives from Public Citizen also pointed out a potential violation of the Constitution’s clause regarding receiving “gifts” from foreign governments.

In their view, foreign officials could use TRUMP to secretly transfer funds:

“Because of the nature of cryptocurrency exchanges, it is difficult to determine if foreign officials are making gifts to the president through the purchase of the TRUMP meme coin.”

In conclusion, the authors suggested that if Trump is allowed to “profit in this way,” other politicians may follow his lead, rendering legislative restrictions “meaningless.”

Recall that in January, the ethics of US President’s cryptocurrency initiatives were questioned in Congress.