DOGE is targeted by several legal actions

DOGE criticized for its lack of transparency

The arrival of Donald Trump at the White House marks an important turning point in United States politics. From his first day in office, Trump issued several decrees, notably to withdraw the country from the Paris Climate Accords and call into question the right of soil for the acquisition of US citizenship.

Concerning the cryptocurrency industry, the Trump administration clearly differs from that of its predecessor, adopting a much more favorable posture to the sector. For several years, Trump has launched NFT collections, introduced memecoins bearing his image and that of his wife, and supported the creation of a strategic Bitcoin reserve.

Among his campaign promises is la création du Department of Government Efficiency (DOGE), an entity whose name is inspired by the famous memecoin, Dogecoin. This department, led by billionaire Elon Musk, aims to eliminate organizations and government spending deemed unnecessary.

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While the DOGE site had only just been launched, the department was already encountering complications, including lawsuits accusing it of multiple breaches.

Screenshot from the official website of the Department of Government Efficiency

The National Security Counselors as well as the Citizens for Responsibility and Ethics and Public Citizen criticize DOGE for a lack of transparency in its establishment and financingin violation of the Federal Advisory Committee Act (FACA), which requires transparency and fair representation on federal committees.

Criticisms also relate to the fact that the creation of DOGE was not approved by any body other than Donald Trump himself, without the approval of Congresscontrary to current procedures.

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DOGE and Bitcoin to reduce the United States debt

DOGE, whose logo makes a nod to Dogecoin, the first memecoin, aims to reduce U.S. government spending by $2 trillion by 2026.

If this objective is achieved, it will allow the Trump administration to reduce the national debt, currently estimated at more than $36.3 trillion.

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Along the same lines, Donald Trump and Cynthia Lummis, senator from Wyoming, presented the “Bitcoin Act”, a bill aimed at establishing a strategic reserve of one million BTC, allowing the government to take advantage of reserve qualities. of value of Bitcoin to reduce its debt.

Although this measure could significantly increase the price of BTC, some Bitcoiners denounce this project, believing that it constitutes an attack against Bitcoin. According to them, Bitcoin is above all a strategic reserve for individuals, intended to protect themselves from government abuses, rather than a tool designed for States to benefit from it.

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Advertising – Investing in cryptocurrencies is offered by eToro (Europe) Ltd as a PSAN registered with the AMF. Investing in cryptoassets is very volatile. There is no consumer protection. Investing is risky (learn more)

Sources : National Security Counselors, Public Citizen