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Three Democratic Congress Member they are looking for a US treasury for Records related to cryptocurrency projects related to President Donald Trump.
In a Letter from May 14Representatives Gerald Connolly, Joseph Morelle and Jamie Rskin called the Minister of Treasury of Scotta Bessent to hand over all Reports on suspicious activities (SARS) filed since 2023 mentioned by World Liberty Financial (WLF) or Official Trump Token (Trump).
Banks and other financial companies are obliged tolerate SARS Network for conducting financial crimes (Fincen) when noticing transactions that could include illegal activity, such as fraud or money laundering.
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The legislators are also to seek any reports that mention the list of names and organizationsincluding President Trump himself, Melania Trump, Winred (Republican Platform for funds collection), Elon Musk, Justin Sun and several Committees for Political Action (PACS). They set up a deadline from May 30 to answer the treasure trove.
MPs explained that they wanted to Assess whether new laws are required to stop the potential violations of the Campaign Financing Policy, protect consumers, and prevent fraud from bribery or securities.
One part of the letter indicates concern about the sale of WLF. Some of these tokens have been sold to foreign customers, who often face fewer rules than US investors.
In addition, the letter is looking for a SARS who included Winred and a political group supported by Elon Musk, which allegedly donated $ 250 million to President Trump’s campaign.
Trump’s token is another focus. MPs say that since customers’ identities are not public, there is a risk that some people could try to gain affection with President Trump by buying large amounts of tokens without being noticed.
The role of Justin Sun is also in the spotlight. He invested in the Wlf, and while the Secant filed a case against him for the alleged violation of the Securities Law, this case is currently on hold.
On April 24, Democratic Senators Elizabeth Warren and Adam Schiff requested an ethical investigation after President Trump offered private access to the owners of Trump’s token. What did they say? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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