Crypto-Spokesman US Senator Elizabeth Warren has led a letter to the office of the currency expressing concerns over the possible struggles of the Trump family’s crypto business interests.
Warren, Senators Chris Van with Holen and Ron Widen, said in one Letter For the head of Jonathan Gold on Thursday that he is concerned with the continuous use of “Trump and his family’s cryptocurrency business ventures.
He requested information about OCC’s steps to ensure that President Donald Trump’s “financial conflict of interests does not affect OCC’s efforts to ensure the safety and sound of our banking system.”
Trump and his family have joined several crypto businesses, including a crypto mining firm and a trading platform that has launched a stabelcoin.
The three senators were recently concerned about the Stabcoin laws, the Genius Act, which appointed OCC as the primary regulator for stabecoin.
“In particular, the bill does nothing to prevent President Trump, his family, or his colleagues from the release of financial benefits and stabelin from their use in the transaction,” read in the letter.
Under the investigation of Trump Family Stabelcoin
In March 2024, the Decentralized Finance Forum World Liberty Financial of the Trump family announced the launch of a stabelcoin called USD1.
The senators stated in the letter that the personal property of the Trump family is “complicated” for the success of the USD1 and their other cryptocurrency undertakings, saying that President Trump has the power to directly influence the nation’s cryptocurrency policy for his financial gain. “
“The launch of a stabechoin is directly linked to a seated president, who stands to benefit financially from the success of Stabecrim, is an unprecedented struggle of the interests presenting important threats to our financial system itself.”
USD1 a “shocking model for corruption”
The letter also highlighted the deal of $ 2 billion, where the Emiti Firm MGX would invest in the Crypto Exchange UsD1, which the trio called “a shocking model for corruption” because the deal could purify Trump’s family “hundreds of hundreds of dollars worth millions of dollars”.
Connected: Eric Trump: USD1 will be used for $ 2B MGX investment in Binance
The senators raised the issue with the USD1, which they used to finance, called “a foreign government-backed unit (MGX) and a foreign corporation, who blamed for criminal violations of the anti-American money laundering and restrictions of restrictions and restrictions of restrictions.”
According to the report, Binance helped powering USD1.
Demand for answer
The letter asks Gold if he believes that Trump can remove him “in his happiness” and will the Gold resign and will provide evidence to the Congress when he pressurized.
He also asked if the OCC would open an inquiry into the World Liberty contestants, asks for reply by 14 August.
The Trump Family StableCoin USD1 is the seventh largest at the global level, ahead of Paple and Rippal’s Stabelin. Its market capitalization is $ 2.17 billion, According For coingecko.
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