In the US Senate, five Democratic lawmakers have called on the leadership of regulatory agencies to consider a conflict with a stubbornness launched by the World Liberty Financial (WLFI), a Crypto firm supported by US President Donald Trump’s family.
In a letter to the US Senate Banking Committee on March 28, Massachusetts Senator Elizabeth Warren and four other Democrats asked the Federal Reserve Committee chair and the rules, Michelle Boman, and the currency’s acting controller, Rodney Hood, asked them to organize WLFI and its WLFI.
On March 28, five Democratic Senators’ OCC, Fed Leadership letter. Source: US Senate Banking Committee
The letter came when members of the Congress are considering legislation to organize the Establishment by guiding and establishing national innovation for the US Establishment, or the Genius Act. The bill, if signed in the law, will allow the currency (OCC) and the Federal Reserve’s Camp Patroller to monitor the stubborn regulation, which includes issues such as the WLFI and its USD1 coins.
Trump also signed an executive order in February that all federal agencies tried – which included the OCC – with White House officials “regularly consult and linked policies and priorities”, which gave the US president an extraordinary control.
“After President Trump’s involvement in the plan, when he snatches his financial regulators of his independence and the Congress simultaneously considers the Stubborn legislation, offers an extraordinary conflict of interests that our financial system and (Fed and OCC) have called for extraordinary decisions.
“The launch of a stabbing is directly tied to a sitting president who stands to take advantage of the success of Stubanon, offers unprecedented risks to our financial system.”
Related: Trump’s USD1 Stables deepens concerns over coin -interest conflicts
Since the World Liberty began months before the US election and the inauguration of Trump in September 2024 – many of the firm’s goals have been confidential. The project’s website notes that Trump and some of his family members control 60 % of the interests of the company’s equity interests.
https://www.youtube.com/watch?v=jmqj01_ZKA8
As of March 14, the global Liberty completed two public token sales, which made the company a joint net worth $ 550 million. On March 24, the project confirmed the launch of its first establishment on BNB China and Ethereum. The president’s son, Donald Trump Jr., also launched a USD1 from the DC blockchain summit on March 26 with three WLFI co -founders.
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