Consumer advocacy organization Public Citizen has called on US government officials to investigate President Donald Trump’s promotion of his memecoin on social media.

In a Feb. 5 letter to the US Department of Justice Public Integrity Section Chief John Keller and Office of Government Ethics (OGE) Director David Huitema, Public Citizen accused Trump of violating the law by soliciting gifts in his position as US president. The group urged officials to investigate the Official Trump (TRUMP) memecoin and whether foreign state actors may be purchasing the token.

“The President is expressly exempt from the broad restrictions on receiving or accepting gifts from prohibited sources or gifts given because of his official position, and thus may accept gifts from the general public, even from ‘prohibited sources,’ or gifts given because of his official position, as long as the President does not ‘solicit or coerce the offering of gifts from such sources, nor accept a gift in return for an official act,” said a 2012 report from the Congressional Research Service.

Related: Ross Ulbricht-tied crypto wallets lose $12M in memecoin misstep: Arkham

A few days before taking the oath of office on Jan. 20, Trump announced the launch of his memecoin shortly before his wife, Melania, released her own token. Public Citizen alleged that Trump had violated federal laws by continuing to post to his social media platform, Truth Social, as president, calling on his followers to buy the memecoin:

“It appears Trump is not soliciting money in exchange for an investment or tangible product [...] but soliciting money in exchange for nothing — that is, asking for a gift that will benefit him personally.”

US president presumptively immune from official acts after SCOTUS decision

The Justice Department is currently led by Trump’s pick for US attorney general, Pam Bondi, while former US President Joe Biden nominated Huitema in the Office of Government Ethics. It’s unclear what may result from any investigation into the memecoin, as the US Supreme Court issued a 2024 decision making the president presumptively immune from prosecution over official acts.

The court decision suggested that even if the Justice Department or OGE determined Trump violated the law, he may continue to do so without fear of prosecution. However, he could face repercussions if the memecoin promotion was considered an unofficial act while in office.

“The meme website explicitly says this is not related to any government office,” Public Citizen Financial Policy Advocate Bartlett Naylor told Cointelegraph. “We are looking at realistic venues that could bring litigation, given that we have little hope that the Department of Justice or Office of Government Ethics will pursue this.”

Public Citizen requested recommendations, including ”termination of the meme sale” and the return of funds to all who purchased the TRUMP coin.

TRUMP’s market capitalization rose to more than $15 billion in less than 48 hours after its launch on Jan. 17, though it has since fallen to roughly $3.7 billion at the time of publication. Many US lawmakers and industry insiders have alleged that the US president could still attempt to rug-pull the memecoin’s investors, as the team behind the token controls 80% of the total supply.

Magazine: Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky