The Trump family is at the center of a political storm due to their connections with crypto firm World Liberty Financial, Inc., raising concerns among lawmakers over the firm's potential influence on financial regulation.
A New Political Battleground
On April 2, Sen. Elizabeth Warren and Rep. Maxine Waters sent a letter to SEC Acting Chair Mark Uyeda demanding disclosure of all records and communications regarding the crypto firm World Liberty Financial, Inc., linked with the Trump family.
SEC Oversight Practices Questioned
Warren and Waters raised concerns regarding the SEC’s decision to pause its enforcement case against Tron founder Justin Sun. They demanded preservation of all internal records justifying this decision, including meetings or communications involving SEC officials.
Partisan Split on Stablecoin Vote
Controversy intensified on Capitol Hill when the House Financial Services Committee passed a bill regulating stablecoins. Democrats pushed for amendments to bar top officials from launching financial products, but Republicans rejected them.
The scandal involving the Trump family and the potential impact on U.S. financial markets continues to raise concerns as the SEC is expected to respond to lawmakers' queries by April 14.
