Dems are looking for weak -suspected activity reports linked to Trump Crypto Ventures
US Democrat lawmakers have sent a letter to the US Treasury demanding access to suspicious activity reports (SAR) in several projects supported by crypto as part of the latest investigation of the president’s digital adventure.
Representatives wrote Gerald Connolly, Joseph Morelle, and Jamie Raskin, the May 14 letter Question Treasury Secretary Scott Bessent for all SARS filed since 2023 in relation to World Liberty Financial (WLF) and the official Trump (Trump) token.
US financial institutions should File SARS with the Financial Crimes Enforcement Network, a bureau inside the Treasury Department, when they see a weakening activity, including potential laundering or fraud.
The removal of the investigation requires for any SARS mentioning Winred, America Pac, Elon Musk, Political Action Committee, PAC, Trump, World Liberty Financial, WLF, Trump, Melania And Justin Sun, no later than May 30.
The democratic lawmakers Say Their investigation is “determine if the law is needed to prevent financial violations in the campaign, consumer protection, bribery, security fraud, and other anti-corruption laws” and guard against “misconduct of financial behavior connected to prospective or current federal officials.”
WLF democrats argue
As part of the letter, lawmakers are focusing on the WLF can be misused as a “vehicle for the influence of the foreign walking” as it served in part of its token sale for foreign investors, who “generally subject to less strict regulations than our investors.”
Justin Sun’s Investment in WLF and the next I -Pause the SEC lawsuit Claiming that the Crypto businessman has destroyed security laws is also a remembrance.
Trump’s token It also burns because lawmakers argue in their letter that coin consumers’ identities are not publicly disclosed, which can open the door for the evil actors “Curry Favor with Trump” by buying a coin.
At the same time, SARS related to Republican Digital Fundraising Winred, Elon Musk’s Super Pac, who poured $ 250 million in Trump’s election campaign, and two other PACs were sought.
Related: The fact that Trump’s possession has been denied by Social that it launches a memecoin
This effort is the latest Salvo led by Democrat against Trump’s crypto adventures.
A group of democratic senators have been reported to have sent a letter to the US Department of Justice and the Treasury Department expresses concerns about Trump’s relationship In the Crypto Exchange Binance and potential conflicts of interest in regulating the industry, according to a May 9 Bloomberg report.
US democratic legislators Launched a multi-angle attack On May 6, that target Trump’s ability to earn from his crypto initiatives with two bills and a subkomite inquiry.
Magazine: Crypto adventures of Trump’s crypto raises conflict of interest, insider trading questions
