Senators Question Trump’s Crypto Conflicts In New Letter

In a new speech, three Senate Democrats pressed the new president of the OCC observer office on the US President’s encryption and conflict of interests regarding Stablecoin for the Trump family, $ 1.

Members of the Senate are wondering about the banking organizer

Thursday, three Democratic Senate members sender A message to a newly confirmed observer about currency Jonathan Gold after the recent signature of the very expected Stablecoin framework. Senator Elizabeth, Warren, Chris Van Holin, Ron Widen, on the OCC president on his position on multiple encryption topics.

We ask for information about the steps you will take as a financial observer to ensure that President Trump’s financial conflict does not affect the office of the ECC’s efforts to ensure the safety of our banking system (including the efforts it made) in the supervision of the payment market.

As mentioned in the letter, the approval of the direction and creation of the national innovation of the Stablecoins Law (Genus) is now established as a major organizer of the licensed Stablecoin exporters, which makes the agency responsible for approval of applications, advises the rules, supervisors, and starting procedures for benefiting from the law.

Excerpt from Senate Democrats' letter to Comptroller Gould. Source: Law360

Therefore, “OCC may be soon in its position as it must review the Stablecoin version submitted by a company directly linked to President Trump and his family and the formulation of regulations that clearly affect the financing of the president.”

For members of the Senate, the genius law “does nothing to prevent” President Trump, his family or its subsidiaries from “financially benefiting from the issuance and sale of Stablecoins and its use in transactions”, which was a growing concern for Democrats in the Senate this year.

In June, Democratic lawmakers suggested a bill to prevent confrontation with encryption interests. As Bitcoin mentioned, Senator Adam presented the Chef of the Law of Income and Calle (a currency) for the income of officials (a currency) to ban the president, the vice president, and his direct family from entering any encryption company while it was in his position.

Trump family encryption struggles

Discussion of potential interests, the letter indicated that President Trump’s Crypting Project, the global Unancan (WLFI), launched Stablecoin USD1 in March 2025, just as Congress began to assess relevant legislation.

Senate members explained that “the launch of Stablecoin is directly linked to a sitting president who calls for financial benefit from the success of Stablecoin is in itself an unprecedented conflict in interests that provide major threats to our financial system,” on the pretext that Trump’s conflicts in interests are “not a theory.”

They highlighted the deal, which is worth two billion dollars between WLFI and the Emirati company MGX, claiming that the president has announced a “amazing model of corruption” using $ 1 to finance business between “a foreign government entity (MGX) and a foreign institution convicted of criminal violations of the United States of the United States.

In other words, President Trump and his family’s personal wealth are associated with the success of other encrypted currency projects in USD1 and WLF; Meanwhile, President Trump has the authority of direct influence on the country’s cryptocurrency policy in his financial favor.

As a result, they asked the financial observer to answer some decisive questions by August 14. Among the inquiries, Senators asked him whether he believed that President Trump can remove him “with his secret” and if the banking organizer would provide any important rules to the White House for review.

They also asked whether the OCC president would resign and provide evidence to Congress if he was under pressure to benefit from WLFI or harm his competitors.

Bitcoin (BTC) trades at $115,260 in the one-week chart. Source: BTCUSDT on TradingView

Distinctive photo of Unsplash.com, Chart from Tradingview.com

Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.