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I don't think the idea is to buy crypto locally, and then donate the crypto to Trump. The purchase is the donation. You just wake up one day and decide to pur
by mrkeen 2y ago
I don't think the idea is to buy crypto locally, and then donate the crypto to Trump. The purchase is the donation. You just wake up one day and decide to purchase some shitcoin. The seller happens to be Trump. He walks away with your USD, and you can keep what you bought or just throw it away.
- Karrot_Kream 2y agoI mean, isn't this the same as donating to Trump?
- hackyhacky 2y ago> I mean, isn't this the same as donating to Trump? Not in a legal sense. In the US, donations to politicians and campaigns are tightly regulated. Foreign entities aren't allowed to donate. Donations have to be reported, are subject to limitations, etc. In crypto, none of that applies. Anyone, anywhere in the world, can invest essentially unlimited funds into a memecoin. It's not technically a donation because you're buying something, and it's not technically going to Trump, because you're buying from some pseudonymous entity on the blockchain. Nevertheless, the money goes to Trump. It's an ideal venue for laundering bribes.
- Karrot_Kream 2y agoGood point, though lobbying groups are often endorsing and donating to candidates and are backed by sentiment in other regimes like AIPAC. I guess $TRUMP is just creating another backdoor around foreign donation regulations.
- hackyhacky 2y agoIn the US, lobbyists representing foreign interests must register as such. Failure to register is a crime: that's what Michael Flynn was convicted of, before Trump pardoned him. In contrast, any foreign party can purchase $TRUMP.
- hackyhacky 2y agoThank you, you expressed this more clearly than I did.