Democrats Accuse Trump of Selling Political Influence Through Crypto Deals
A report from the U.S. House Judiciary Committee accuses the Trump administration of granting foreign investors access and regulatory advantages in exchange for investments in crypto projects linked to the Trump family.
A new report from Democrats on the U.S. House Judiciary Committee has leveled serious allegations against the Trump administration. According to the report, U.S. policy was deliberately tied to the Trump family's crypto empire, valued at over $11 billion [1].
The report states that projects including World Liberty Financial, the WLFI governance token, the USD1 stablecoin, and the TRUMP memecoin were financed by investors from China and the United Arab Emirates in exchange for political access and favorable regulation [1].
Simultaneously, the administration repealed key crypto regulations, created a strategic crypto reserve, and dissolved the specialized investigative unit NCET. The Securities and Exchange Commission also dropped lawsuits against several major crypto companies [1].
The report particularly criticizes pardons such as that granted to Binance founder Changpeng Zhao, which came after the establishment of business relationships with Trump-affiliated firms. Legal experts and lawmakers warn of violations of the Foreign Emoluments Clause of the U.S. Constitution and are calling for stricter regulations against self-enrichment and foreign influence through the crypto sector [1].
Sources
- [1]btc-echo.de
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