Lawmakers, led by Sen. Elizabeth Warren and Rep. Maxine Waters, have raised concerns about the Trump family’s involvement in the cryptocurrency firm World Liberty Financial, Inc. (WLFI), which is perceived as a significant conflict of interest that may affect U.S. financial regulation. They have requested the SEC preserve all records related to WLFI and its token sales, which raised $550 million. The lawmakers underscored potential regulatory favoritism following the SEC's decision to pause enforcement actions against several firms, including those linked to Donald Trump, Jr. and Eric Trump, who alongside their father, claim a substantial share of WLFI's revenue. They also criticized the SEC for halting a case against Tron founder Justin Sun after a fraud charge, suggesting possible inappropriate influence from the White House on regulatory actions regarding cryptocurrency. This situation has sparked further debate around a stablecoin legislation, reflecting ongoing tensions in regulatory policy amid allegations of political influence.

Source 🔗