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Zach Witkoff, one of the co -founders of the Krypto Platform for World Liberty Financial (WLFI), supported by Donald Trump (WLFI), rejected the efforts of US lawmakers to investigate the potential clashes of the President’s interests.
In the letter 15 May Senator Richard Blumenthal, lawyers for World Liberty Financial claimed The call to explore the cryptological platform was based on “fundamentally defective premises and inaccuracies”. Specifically, Witkoff did not deal with any accusations and claimed that WLFI was “too busy building” for supervision.
“The company refuses to make a false choice between innovations and supervision,” the letter said. “What is being abused by regulatory authority and uncertainty to suppress legal innovations.”
Bllumenthal, ranking of a permanent US Senate Subcommittee was one of the many Democrats Call of investigation and legislative changes In response to Trump’s links to WLFi, as well as his Trump MEMECOIN and his dinner scheduled for the best token undergrounds on May 22.
The Genius Act, a bill on the recognition of stablecoins as payment instruments that are currently considered in Congress, can be Bellwether For how lawmakers intend to manage the President’s potential clashes of interest.
The debate on Stablecoin Bill continues the Congress of the Republican -controlled
One of Blumenthal and many US legislators Fears of Trump’s connection with WLFI It is USD1 Stablecoin, which the platform launched in March. The investment company based in Abu Dhabi announced in May that Stablecoin would use $ 2 billion to settle in Binance, a cryptomic exchange, which was previously the aim of the US authorities.
“The WLFI financial entanglement with the President, his family and Trump’s administration represent an unprecedented conflict of interest and risks of national security, including a possible violation of the foreign eaters,” wrote Blummenthal in Witkoff.
Related: What are the next steps for American bills?
https://www.youtube.com/watch?v=VKC5QCRVDC0
Some Democrats have called to clarify Within the brilliant law, Trump will not be able to personally benefit from stablekoin whose legislation could influence and then have the opportunity to sign the law. From May 16, however, it was not clear whether the future vote on the bill on these concerns would deal with. Cointlegraph addressed the office of Senator Blumenthal to comment, but did not receive the answer at the time of publication.
Magazine: Trump’s Crypto Ventures evoke a conflict of interest, trading questions
