Is it a satire of Trumpcoin? Vitalik, the founder of Ether Square, criticized short-sightedness and selfishness. Trump's couple coin may violate the law.

Ether founder Vitalik Buterin once again voiced sensitive issues between politics and Crypto Assets. On 1/24, he warned on Twitter that politicians continue to launch 'political meme coins', which may become a tool for indirect bribery, posing long-term risks to the encryption industry and democratic systems.

Political coin may damage the development of the encryption industry and democratic system

Vitalik said that the current regulatory environment for encryption has entered a new order, and all parties seem quite enthusiastic about creating any scale of Crypto Assets. He warned that these 'political coins' which provide short-term pleasure may be interesting for a while, but just like 'candy', they are sweet to eat but not nutritious, and do not help in accumulating real wealth. He pointed out that large-scale political coins have already crossed the line, not only for entertainment purposes, but may also become a tool for indirect bribery, potentially involving the influence of foreign forces.

Call on voters to carefully choose 'pro-encryption' candidates

Vitalik's remarks echoed his article in July last year, when he reminded voters not to be easily attracted by candidates who claim to 'support encryption', but to delve into the core values of the candidates. In 2018, Vitalik attended a meeting with Russian President Putin, during which many people in the Russian government expressed openness to cryptocurrency. However, this later sparked Vitalik's concerns about authoritarian governments that are 'encryption-friendly' and may use encryption technology to manipulate people on a large scale.

The picture shows Vitalik attending a meeting with Russian President Putin in 2018.

Although Vitalik did not directly name the Trumpcoin introduced by the US President Donald Trump, his comments seem to strongly criticize such types of token coins.

Trump couple coin causes controversy, hidden legal risks

Since the launch of Trumpcoin (TRUMP) on 1/17, there has been ongoing controversy. Critics have pointed out that foreign governments may be buying Trumpcoin through special channels, potentially influencing the decisions of the US president. According to the Foreign Emoluments Clause of the US Constitution, government officials are not allowed to accept gifts from foreign countries.

Democratic Senator Elizabeth Warren, who is known for her opposition to cryptocurrencies, recently called on federal agencies in the United States to investigate the meme coins TRUMP and MELANIA, launched by President Trump and First Lady Melania.

According to foreign media reports, the Washington watchdog group Citizens for Responsibility and Ethics is considering suing (TRUMP), but whether the coin is legal remains controversial.

(Warren writes to the SEC and CFTC: requesting an investigation into the Trump meme coin TRUMP, involving conflicts of interest)

Is this article sarcastic about Trumpcoin? Vitalik, the founder of Ether Square, criticized short-sightedness and profit-seeking, saying that the Trump couple's coin may be illegal, first appeared on Chain News ABMedia.