"Official Trump (TRUMP) to Face 100% Lawsuit Within 60 Days"

President Donald Trump has launched the official meme coins 'Official Trump (TRUMP)' and 'Melania (MELANIA)', and there are claims that Democrats and investors will file lawsuits within two months.

According to Cointelegraph on the 22nd (local time), Preston Byrne, a cryptocurrency lawyer, stated in a blog post that "the legal status of meme coins in the U.S. is uncertain," and "the likelihood of the Trump project being sued by Democrats or investors is 100% within 60 days and 90% within 14 days." He further added, "In some states like New York, consumer protection laws might apply," and "while President Trump has immunity, lawyers and project associates could be subject to prosecution."

Byrne also predicted that the disclaimer of the TRUMP project would not prevent civil lawsuits. The terms of use on the TRUMP official website specify that "the token is not an investment opportunity, investment contract, or security of any kind." It also includes clauses for class action waiver and mandatory arbitration for all disputes.

Byrne noted, "These terms might make it difficult for initial buyers to file lawsuits," but added, "Secondary token holders are likely to argue that these terms should not apply to them." He emphasized, "Someone will lose money due to the Trump project, and lawyers will find grounds to file a lawsuit."

However, there were also claims that lawsuits might be difficult due to the nature of meme coins. Aaron Brogan, a cryptocurrency lawyer, stated, "No court in the U.S. has clearly ruled meme coins as legal," but "there is a possibility that meme coins might not be classified as securities under the Howey Test." The Howey Test is a legal test used by courts to determine the security nature of certain financial products.

Brogan explained, "Meme coins are inherently projects that do nothing," and "people buy them not for utility but simply because the meme exists on-chain." He noted that it is legally challenging to prove the security nature of meme coins, which is why the U.S. Securities and Exchange Commission (SEC) has targeted Ripple and Solana (SOL) instead of meme coins.

Furthermore, he added, "It is absolutely impossible for the federal government to pose a legal threat to him during Trump's term."