The post US lawmakers urge SEC to preserve records on Trump-linked crypto firm appeared on BitcoinEthereumNews.com.

Senator Elizabeth Warren and Representative Maxine Waters have sent a letter to the Securities and Exchange Commission (SEC) demanding full transparency regarding Trump’s links to a crypto company called World Liberty Financial (WLFI).  The two Democratic lawmakers in the U.S. have raised concerns about former President Donald Trump’s financial ties to the cryptocurrency sector. They urged acting SEC Chair Mark Uyeda in an April 2 letter to preserve all WLFI records and share details with Congress. They fear that Trump’s financial stake in the company might maneuver regulations in the crypto business. The legislators are especially worried that Trump’s administration will lean on the SEC to reach favorable decisions for crypto companies that benefit him and his family. The letter stated: “The financial interest that the Trump family has in World Liberty Financial presents an unprecedented conflict of interest that has the potential to shape the Trump Administration’s oversight — or absence of oversight — of the cryptocurrency industry.” They contend that government agencies — the SEC is just one of them — must not be swayed by personal business interests. Experts have concerns about Trump’s crypto plans Trump’s foray into cryptocurrency has ballooned recently, with lawmakers expressing worry. World Liberty Financial (WLFI) recently issued a stablecoin named USD1 on several major blockchain networks.  Since January, Trump has launched various crypto approaches, including a national cryptocurrency stockpile that would serve as a government reserve to hold large proportions of digital currency. He has also launched the TRUMP memecoin, a cryptocurrency connected to the political brand he can use to raise money or rally his base. Lawmakers worry that Trump’s rising power in the crypto sphere could result in policy shifts that directly profit him. The risk here, in particular, is that he could advocate for WLFI’s stablecoin to be adopted for government transactions, enabling his…

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Filed under: News - @ April 3, 2025 2:25 am