The Launch of the Official Trump Token (TRUMP) and Its Impact on Crypto Regulations

Bittime - The launch of the Official Trump (TRUMP) token on January 17, 2025 shocked the crypto market. The event triggered a significant price spike and attracted widespread attention. 

This Solana-based token recorded a market capitalization of more than $6 billion (around IDR 98 trillion) in just one day. However, behind this phenomenon, there is a number of debates regarding its impact on crypto regulation, both in the United States and globally.

Controversy Surrounding the Launch of TRUMP Memecoin

The TRUMP token was launched ahead of Donald Trump's inauguration as US President on January 20 2025, accompanied by "The Crypto Ball" event in Washington DC. 

This memecoin immediately attracted attention because of its association with Trump, even though previously there were many similar memes circulating on the market. 

The certainty that TRUMP was the official token launched by the Trump family pushed the price up to 12,500% in a short time. On January 18, the token price reached $35 (around IDR 570 thousand), although it then fell 35%, with the current price around $27 (around IDR 440 thousand).

Read also: How to Buy Official Trump (TRUMP) on DEX

This price spike illustrates the magnitude of the impact that the launch of TRUMP had on the crypto market. However, this success has come with controversy, especially regarding the potential legal violations that accompany it.

Positive Signal of Crypto Regulation or Constitutional Violation?

On the one hand, the launch of TRUMP is seen as a positive signal for crypto regulation in the United States. Bill Hughes, attorney at ConsenSys, argues that the new Trump administration could open up greater space for innovation and experimentation in the crypto sector. 

Hughes is optimistic that these progressive policies will lead the United States to become a leader in digital transformation and trade.

However, on the other hand, some lawyers, such as David Lesperance, consider that the launch of this token has the potential to violate the "Foreign Emoluments Clause" in the US Constitution. This clause aims to prevent foreign influence on US government officials. 

Since TRUMP could easily be purchased by foreign individuals or entities, this could lead to legal problems. If the new US Attorney General, Pam Bondi, decides to take legal action, the impact on crypto regulation in the US could be huge.

Read also: Is Official Trump (TRUMP) Legit? Reveal the Facts Here!

TRUMP's Trading Surge and Its Impact on Crypto Markets

TRUMP's launch also sparked a surge in trading in a crypto market already known for its volatility. Despite much skepticism regarding the sustainability of the price increase, this phenomenon shows the market's enormous attraction to meme-based tokens. 

This high trading activity is an indication that interest in crypto continues to grow, with more retail investors and large institutions getting involved.

However, even though it attracts attention, the TRUMP phenomenon also raises big questions. Will the launch of this token push crypto regulations to become stricter, or will it open up wider space for experimentation and innovation in the future?

FAQ 

1. Who is Donald Trump?

Donald Trump is the President-elect of the United States who is scheduled to be inaugurated on January 20, 2025. Previously, he served as President of the United States from 2017 to 2021.

2. How old is Donald Trump?

Donald Trump is 78 years old.

3. When was Donald Trump born?

Donald Trump was born on June 14, 1946.

4. Where was Donald Trump born?

Donald Trump was born in Queens, New York City, New York, United States.

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Reference 

Cointelegraph, What the release of Trump's memecoin signals for crypto regulations, accessed January 19, 2025.

The New York Times, Trump Begins Selling New Crypto Token, Raising Ethical Concerns, accessed on January 19, 2025.

Author: Y