High Home Democrats despatched a letter to the U.S. Treasury Division Wednesday, asking its cash laundering watchdog at hand over all suspicious exercise stories (SARs) tied to President Donald Trump’s crypto ventures.
In a letter despatched to Treasury Secretary Scott Bessent, Reps. Gerald Connolly (D-Va.), Joe Morelle (D-N.Y.) and Jamie Raskin (D-Md.) — the rating members of the Home Oversight, Administrative, and Judiciary committees — known as for an pressing investigation into Trump’s blockchain mission World Liberty Monetary and the $TRUMP memecoin, citing potential violations of marketing campaign finance legal guidelines, bribery statutes and securities laws.
“The Committees search to find out whether or not laws is critical to forestall violations of marketing campaign finance, client safety, bribery, securities fraud, and different anti-corruption legal guidelines in reference to fundraising by candidates for federal workplace and federal officeholders and to protect towards misleading and predatory marketing campaign fundraising practices, illicit international affect over federal officers, and different monetary misconduct related to potential or present federal officers,” the main Democrats on the committees wrote in a press launch shared with CoinDesk.
The request marks an escalation in congressional scrutiny on whether or not President Trump and his entourage are abusing their positions of energy to profit their crypto companies. Senate Democrats pointed to Trump’s crypto ventures final week as a part of their purpose for not voting to advance stablecoin laws that beforehand noticed bipartisan help.
The inquiry zeroes in not solely on the Trump household’s September 2024 launch of World Liberty Monetary and the $TRUMP memecoin launched simply days earlier than his inauguration, but additionally Elon Musk’s America PAC and whether or not they’re utilizing Trump’s identify to solicit donations below false pretenses.
Learn extra: Senate Democrat Says He is Trying Into Trump’s Crypto Companies
