President Donald Trump has become embroiled in legal controversy for using the official presidential seal during a dinner with investors of his meme coin, Trump Token, as reported by Cointelegraph.
The event was held at Trump National Golf Club and was attended by the top 220 investors of Trump Token. According to U.S. law, the presidential seal cannot imply government approval or sponsorship, and violations can result in fines or imprisonment.
Trump arrived at the venue via military helicopter and continued criticizing the Biden administration’s cryptocurrency policies. In response, White House Press Secretary Karoline Leavitt drew a line, stating it was a private gathering.
Cointelegraph reported that the controversy is growing as it intertwines with the potential involvement of foreign investors.
According to Bloomberg, most attendees are presumed to be foreign nationals. Thirty-five U.S. House of Representatives members have called for a Department of Justice investigation into the dinner, asserting the need to verify whether Trump violated any laws. The U.S. Constitution prohibits the president from receiving gifts from foreign entities without congressional approval.