Investigation into Cryptocurrency Projects Related to Trump
U.S. Democratic lawmakers have sent a letter to the Treasury Department requesting access to suspicious activity reports (SARs) related to several cryptocurrency projects backed by Trump. The letter, signed by Representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin, calls on Treasury Secretary Scott Bessent to provide all SARs from 2023 related to World Liberty Financial (WLF) and the official Trump Token (TRUMP).
Financial institutions in the U.S. must file SARs when they detect suspicious activities, including money laundering or fraud. This investigation expands the search for SARs mentioning WinRed, America PAC, Elon Musk, Trump, WLF, TRUMP, MELANIA, and Justin Sun before May 30.
Democrats believe that WLF and the Trump coin could be abused. They warn that WLF could be a 'vehicle for foreign influence' because it sells Tokens to foreign investors, who are subject to fewer regulations. Justin Sun's investment in WLF and the SEC's pause on the lawsuit are also concerning.
The Trump Token has also come under fire for the anonymity of its buyers, enabling opaque actions involving Trump. Meanwhile, SARs related to the Republican digital donation platform WinRed and Elon Musk's PAC, which spent $250 million on Trump's campaign, are also being requested.
This is the latest move by the Democrats to counter Trump's cryptocurrency activities. Some lawmakers have even sent letters warning about the relationship between Trump and the Binance exchange and related conflicts of interest.
The Democrats have launched a multi-faceted attack to prevent Trump from profiting from cryptocurrency initiatives with legislation and a secondary investigation. This raises many questions about conflicts of interest and insider trading in Trump's cryptocurrency projects.
Source: https://tintucbitcoin.com/dan-chu-truy-vet-giao-dich-tien-dien-tu-cua-trump/
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