US lawmakers press SEC for info about Trump family-backed crypto firm
According to Elizabeth Warren and Maxine Waters, Americans deserve transparency about Donald Trump’s crypto initiatives and how they could potentially influence the SEC.
Two Democratic lawmakers in the US Senate and House of Representatives have called on acting Securities and Exchange Commission (SEC) Chair Mark Uyeda to preserve information regarding World Liberty Financial, the crypto firm backed by President Donald Trump’s family.
In an April 2 letter, Senator Elizabeth Warren and Representative Maxine Waters — ranking members of the Senate Banking Committee and House Financial Services Committee, respectively — asked Uyeda to provide information to Congress based on Trump’s ties to World Liberty Financial (WLFI). The two lawmakers suggested the SEC may be being influenced by the firm, and “this conflict of interest may be interfering with its mission to protect investors and maintain fair and orderly markets.”
“The Trump family’s financial stake in World Liberty Financial represents an unprecedented conflict of interest with the potential to influence the Trump Administration’s oversight — or lack thereof — of the cryptocurrency industry, creating an obvious incentive for the Trump Administration to direct federal agencies, including the SEC, to take positions favorable to cryptocurrency interests that directly benefit the President’s family,” said the letter.
