Trump Crypto offer provokes feedback and investigation calls

Senate Democrats require changes to Cryptocurrency legislation In Congress, he is partially responsible for growing evidence that Trump family uses its connections and the power of President Trump to benefit from crypto trading.

The thrust was amplified at the end of last week after a closed door meeting between Democrats of the Senate in which Senator Chuck Schumer, Democratic Leader, said to colleagues, they should not have voted for so-called Genius ACT, a Bill supported the crypto industry.

For months, it seemed to the bill slipped towards the passage, with the support of both sides, and it was scheduled for procedural voting this week. But at the meeting, the Senate Democrats expressed worrying that legislation would use the crypto of the Trump family directly, inviting reporting from The New York Times.

Among the concerns, according to the legislation, is that the CRIPTO firm for associated crypt, world freedom, recently provided a contract to take $ 2 billion in the Emirate Fund Deposits to the Government of Abu Dhabi, Times reported Last week.

“It’s a sales of influence, conflict, just a mass form of corruption, we were not witnesses,” said Senator Jeff Merkley, Democrat Oregon, said the comments he said he said he said at the meeting. “And that is necessary to end.”

And Senator Elizabeth Warren, Democrat Massachusetts, pushed the other democrats to stop at the point.

Senate Legislation will “make it easier for the President and his family to take his pockets,” said Mrs. Warren in the statement. “This is corruption and no senator should be supported.”

These ethical concerns contributed to the wider discomfort due to the law among democracies. Several Senators also pointed out other issues, claiming that legislation lacks sufficient protection against money washing.

Representatives of the Bela House, Trump Organization and World Freedom did not immediately respond to the commentary requests.

Cripto managers lobbied months to pass the Genius ACT, an account that would facilitate American companies to deal with stablecoins, Cryptocurrency type which maintains the price of $ 1. This would be one of the first formal acts by the MP to create a regulatory system that could help the industry grow in the United States. Cripto traders like to use stablecoins, because they do not rock the way they work and other digital currencies, making them suitable for many types of business transactions.

But the incentive for the industry would also be an incentive for world freedom, expanding the market for Stablecoin, which recently began to issue. The Trump family and its partners have already been placed that in the morning cannot take on tens of millions of dollars a year, if not more, at these stabs issued by world freedom.

This prospectus encouraged pushing from democratic laws.

At the meeting, Democrats raised a series of complaints on the bill, pointing to conflicts of interest in Mr. Trump, as well as the language that would help abroad Stablecoin companies avoid some of the new rules.

On Saturday, a group of nine democrats, including four who voted to improve legislation from the Senate Banking Committee, announced that it would not support it No major changes. They claimed that the draft law was lacking strong provisions to stop laundering money and police of foreign crypts, but did not mention the crypto business of Mr. Trump.

Senate Republicans need at least seven Democrats to vote with them to cross legislation, so the opposition that appeared could kill legislation, a potentially large blow to the crippto industrial goals in Washington.

During the pre-election cycle 2024, CRIPTO firm spent more than $ 130 million Candidates for the support of Congress, including Democrats in narrow races, such as Senator Elissa Slotki from Michigan and Senator Ruben Gallego from Arizona. Г. Gallego, who voted to improve the genius of the act in the banking committeeHe was one of the legislators who signed a statement this weekend, expressing concern about the law.

Г. Merkley and Mrs. Warren moved separately on Monday The request of the Office of the Government Etics to investigate the growing cryptocurnent jobs of the Trump family, calling them “stunning degree of foreign influence and potential for quid pro quo that could endanger national security.”

Version of StableCoin Account is also on the house, where democratic leaders plan to protest Tuesday to protest in the role of Mr. Trump in the industry, walking in industry.

The representative of Liccard, Democrat California, who supports Stablecoin legislation, said the recent moves of the Trump family frustrated crypto managers who push Congress to complete the account.

“I’m getting more and more concerns in the Silicon Valley from the leader of the Cripto industry – deep discomfort with which Trump wrapped this industry in the Kleptocratic scheme managed by his sons,” said Mr. Liccardo.

Even some Senate Republicans and long-term advocates crypto, expressed concern about Mr. Trump’s efforts and his family to benefit from crypto. “This is my president we are talking about, but I’m ready to say that it takes me to take me,” Sentia Lummis Senator said, said NBC News Last week.

Onetime Cripto Skeptić, Mr. Trump embraced digital currencies last year at the trail of the campaign, promising that the United States would turn into a “cripto capital planet.” In September, his sons also announced that they began with world freedom, work to offer their digital currencies.

Once in office, Mr. Trump appointed leaders on the main federal agencies that support the industry and quickly finished Bajda. But the main goal of Krupto in Washington was to provide ambitious legislation that would cement the standing industry in the American financial system.

Genius ACT was the first bill to take over the momentum. In March, the banking committee voted 18 to 6 to improve legislation, with Mr. Gallego and four more democrats supported.

Soon it became clear that Stephone’s rules would move directly to Mr. Trump’s job. About two weeks after the Board of Board, world freedom has announced that it will offer its own Stablecoin, call USD1, which could be extremely profitable for the Trump family.

Companies that issue stableCoyine work similar to banners: issuers earn by accepting customer deposits, giving them coins in return, and then invest these deposits to give yield to yield.

Last week, one of World Freedom Founders announced at the crypto conference that entrepreneurial capital would support Abu Dhabi’s government worth the main industry – effective to chair the President in the President’s family.

Recent reporting on the time of Abu Dhabi transactions and other conflicts of interest last world freedom is widely widely at the Capitol last week wide. Senate Democrats distributed research notes, stating these investigations and attacking legislation as a vehicle for Trump’s family “Corruption profits from its cryptocurnancy schemes”, according to copies obtained by the time. Representative Maxine water, Democrat California, Read aloud one of the articles of time in full during the hearing board last week.

At the Democrat Senate meeting, Mr. Schumer was concerned about the language in legislation who could afford American regulators in the United States in the past to offer in the United States in Congress Associations to target the United States in Congress Associations. He called for democrats to inspect classified Briefings, the banking committee composed in connection with the mend.

The Tether spokesman did not answer the comment request. Some meeting details have previously been reported Axios.

The Aide Senate said that negotiations continue to deal with some worries that the democracies were asked, including Senator Kirsten Gillibrand, Democrat New York, looking for a way to move legislation on the passage.

Mr. Trump did not show signs that it was deterred. On Monday, he published himself a fist in the air on his social media platform, true socially, calling his supporters to buy a cryptocurious called $ 100 million dollar fees for his family and her partners.

On Monday night, Super Pac supports Mr. Trump was scheduled to hold funds in his Trump’s National Golf Club in Virginia, sponsored Cripto executives, who were asked to pay 1.5 million dollars after attending.