Crypto Conflics Of Interest? Lawmakers Question SEC Chair
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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Two Democrat US Lawmakers have sent a letter to the Securities and Exchange Commission (SEC) acting chair, Mark Uyeda, asking about President Donald Trump’s crypto businesses and potential conflicts of interest related to the Commission’s regulations. US SEC Asked About Trump’s Crypto Businesses On Wednesday, Senator Elizabeth Warren and Representative Maxine Waters asked the SEC’s acting chair about potential conflicts of interest and whether President Trump’s financial ties to the crypto industry through World Liberty Financial (WLFI) have influenced the Commission’s and Uyeda’s decision-making. Sen. Warren and Rep. Waters’ letter to the SEC acting chair. Source: Banking Senate Committee The letter cites a recent investigation by Reuters, alleging that the US President, Donald Trump Jr., and Eric Trump are “directly affiliated with WLF, which has already raised over $500 million through token sales through an exempt securities offering.” The report also states that the presidential family “has a claim on 75% of net revenues from those sales,” meaning they could benefit up to $400 million from their crypto venture. As such, the lawmakers argue, “The Trump family’s financial stake in World Liberty Financial represents an unprecedented conflict of interest with the potential to influence the Trump Administration’s oversight—or lack thereof—of the cryptocurrency industry, creating an obvious incentive for the Trump Administration to direct federal agencies, including the SEC, to take positions favorable to cryptocurrency interests that directly benefit the President’s family.” Senator Warren and Representative Waters requested the SEC Chair to “preserve and provide” copies of all records and communications regarding WLFI at the Commission from October 15, 2024, until the present by April 14, 2025. In the letter, they also inquired about all records and communications related to the SEC’s decision to pause its case against…
Filed under: News - @ April 4, 2025 11:20 am