Five Democratic lawmakers in the U.S. Senate have called on regulators to consider potential conflicts of interest in Stablecoin, a cryptocurrency company supported by the family of U.S. President Donald Trump.
On March 28 letter Massachusetts Sen. Elizabeth Warren and four other Democrats are on the U.S. Senate Banking Committee, Michelle Bowman, chairman of the Federal Reserve’s oversight and regulatory committee, and Rodney Hood, director of the Monetary and Monetary Committee, how they intend to regulate WLFI and its Stablecoin usd1.
On March 28, a letter from five Democratic senators to the OCC provided leadership. source: U.S. Senate Banking Committee
This letter is from a member of Congress Consider legislation to regulate stability By guiding and establishing a national innovation or genius bill targeting stability in the United States. The bill, if signed as law, would essentially allow the Monetary Auditor (OCC) and the Federal Reserve’s Auditor’s Office to oversee Stablecoin regulations, including issuers such as WLFI and its USD1 coins.
Trump is also sign An executive order in February attempted to get all federal agencies, allegedly including the OCC, to “regularly consult and coordinate policies and priorities” with White House officials and give the U.S. president unprecedented control.
“President Trump was involved in this business because he considered both its independence and the financial regulators in Congress, while taking into account Stabekkin’s legislation, raised an extraordinary conflict of interest that could pose unprecedented risks to our financial system and the integrity of decisions made (the Federal Reserve and the OCC).
“The launch of stablecoins directly related to the current president, the Chairman will benefit from the economic benefits of stable success, which presents unprecedented risks to our financial system.”
Related: Trump’s USD1 Stablecoin deepens focus on conflict of interest
Many of the company’s goals have been kept secret since September 2024 (a few months before the U.S. election and Trump’s inauguration). The project’s website notes that Trump and some of his family members control 60% of the company’s equity interests.
https://www.youtube.com/watch?v=jmqj01_zka8
As of March 14, World Liberty has completed two public token sales. Purification company Total of $550 million. On March 24, the project Confirmed launch of its first stablecoin On BNB Chain and Ethereum. President’s son Donald Trump Jr.
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