BusinessPostCorner.com
No Result
View All Result
Monday, June 30, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Democrats Demand Treasury Records on Trump-Linked Crypto Projects

May 15, 2025
in Crypto News
Reading Time: 3 mins read
A A
0
Democrats Demand Treasury Records on Trump-Linked Crypto Projects
ShareShareShareShareShare

Democratic lawmakers have launched a new probe into former President Donald Trump’s growing involvement in the crypto industry, requesting detailed financial reports from the U.S. Treasury related to his digital ventures.

In a letter dated May 14, Representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin asked Treasury Secretary Scott Bessent to release all suspicious activity reports (SARs) filed since 2023 concerning several Trump-linked entities.

These include World Liberty Financial (WLF) and the Official Trump token (TRUMP), both central to Trump’s recent foray into digital assets.

Inside SARs: How FinCEN Tracks Financial Crime

Suspicious activity reports are filed with the Financial Crimes Enforcement Network (FinCEN) when financial institutions detect potentially illicit activities, such as money laundering or fraud.

The lawmakers also requested SARs mentioning WinRed, America PAC, Elon Musk, PACs in general, MELANIA, Justin Sun, and several other figures and organizations. They set a deadline of May 30 for the Treasury to respond.

The goal, the lawmakers said, is to assess whether new legislation is needed to prevent potential violations of campaign finance, securities, bribery, and anti-corruption laws.

“We must guard against financial misconduct connected to current or prospective federal officials,” the letter reads.

A key concern is that World Liberty Financial may have enabled foreign influence.

NEW TODAY: Oversight Dems, @HouseJudiciary, and @HouseAdm_Dems are demanding the Treasury Dept turn over Suspicious Activity Reports on these organizations to investigate election fraud & corruption.

Democrats are fighting to protect the integrity of our govt and our elections. pic.twitter.com/H84miZjBbL

— Oversight Committee Democrats (@OversightDems) May 14, 2025

The token sale reportedly included offerings to international investors, which Democrats argue are subject to looser regulatory oversight than their U.S. counterparts.

Additionally, the involvement of crypto entrepreneur Justin Sun—who invested in WLF and recently saw the SEC pause its lawsuit against him—has raised further red flags.

The Trump coin is also under scrutiny. Lawmakers pointed out that the identities of buyers are not publicly disclosed, creating a potential avenue for undisclosed influence or favoritism toward the former president through token purchases.

This is the latest in a series of Democratic efforts to scrutinize Trump’s ties to the crypto sector.

Earlier this month, senators called on the Department of Justice and Treasury to investigate links between Trump and Binance.

On May 6, House Democrats introduced two bills and opened a subcommittee investigation into whether Trump could personally profit from these digital ventures while campaigning for reelection.

Senate Democrats Target Trump Family in New Bill Banning Crypto Issuance by Officials

Last week, Senate Democrats introduced new legislation aimed at curbing financial gains by federal official, including former President Donald Trump and his family, through cryptocurrency ventures.

The move comes amid growing scrutiny over Trump-linked digital asset projects, including a meme coin that has drawn significant public attention.

The proposed legislation, titled the Modern Emoluments and Malfeasance Enforcement (MEME) Act, was unveiled on May 6 by Senator Chris Murphy.

The bill seeks to bar the president, vice president, members of Congress, senior executive officials, as well as their spouses and children, from issuing, sponsoring, or promoting digital assets, including securities, commodities, and futures.

The post Democrats Demand Treasury Records on Trump-Linked Crypto Projects appeared first on Cryptonews.


Credit: Source link

ShareTweetSendPinShare
Previous Post

What has happened to the closed Debenhams stores?

Next Post

Forget SUVs: Minivans are having a renaissance—and they’ve never been this plush

Next Post
Forget SUVs: Minivans are having a renaissance—and they’ve never been this plush

Forget SUVs: Minivans are having a renaissance—and they've never been this plush

U.S. trade talks resume after Canada rescinds tech tax in ‘clear victory’ for Trump

U.S. trade talks resume after Canada rescinds tech tax in ‘clear victory’ for Trump

June 30, 2025
Welfare concessions to be set out before key vote

Welfare concessions to be set out before key vote

June 30, 2025
Coinbase Named TIME ‘Disruptor’ as Stock Soars 42% on Crypto Policy Wins

Coinbase Named TIME ‘Disruptor’ as Stock Soars 42% on Crypto Policy Wins

June 29, 2025
UK vehicle production hits 76-year low in May as Trump tariffs bite

UK vehicle production hits 76-year low in May as Trump tariffs bite

June 26, 2025
XRP Surges as Ripple CEO Garlinghouse Signals End to SEC Dispute

XRP Surges as Ripple CEO Garlinghouse Signals End to SEC Dispute

June 28, 2025
How AI can help middle management help nurture talent

How AI can help middle management help nurture talent

June 27, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

UK sale of F-35 fighter jet parts used by Israel ruled legal by High Court

UK sale of F-35 fighter jet parts used by Israel ruled legal by High Court

June 30, 2025
Arbitrum Explodes 20% as Yapyo SocialFi Mania Triggers Flywheel Effect — alt=

Arbitrum Explodes 20% as Yapyo SocialFi Mania Triggers Flywheel Effect — $0.5 Next?

June 30, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!