World Liberty Financial (WLFI) plans, the Trump family encryption project, to issue Stablecoin, is concerned about the American President’s exposure to the digital asset industry.
The project released Mimikwin immediately before President Donald Trump, whose price increased and broke down after a short period, caused many, caused by many. WLFI was accused of pump and discharge scheme.
WLFI also made millions of dollars in purchases of the distinctive codes directly before the important encoding events that the president attended or affects the industry. WLFI He bought 20 million dollars from various symbols Before the White House encryption summit March 7.
With the growth of the World Liberty Financial wallet and the supervision of organizations disappears from the encryption industry, legal observers and scholars have become increasingly concerned about the conflict of interest in the Trump administration.
Son Eric Trump pumps his father’s micoin before the opening. source: Eric Trump
Stablecoin Trump, USD1, full of opponents
WLFI Declare On March 25, the new Stablecoin USD1 will be launched, “100 % supported by short -term US Treasury bonds, US dollar deposits, and other cash equations.”
The co -co -founder of WLFI Zach Wittouf said in the advertisement that the currency can be used “armed transactions across the safe border.”
The next version news for USD1 came just days after WLFI I got more than 500 million dollars By selling her WLFI codes.
Observers have already started raising the alarm on the potential security risks offered by Stablecoin connected to the president. There are also concerns about the possibility of manipulating the market and violations of the American constitution clause in the American constitution – a section of the document that protects against the unjustified impact on American leaders.
Regarding the latter, the lawyer of the electronic and digital media, Andrew Rosso, told Stablecoin that “a direct insult to the constitutional guarantee aimed at preventing conflicts of interest.”
“With Trump and his family control 60 % of Liberty’s global property interests, Stablecoin Usd1 can facilitate indirect financial gains or foreign unjustified impact on American policy, especially if foreign entities invest or use Stablecoin.”
WLFI is a large part of Trump’s net value. source: luck
Cori Fryer, who worked in the policy of encryption in the Securities and Stock Exchange Committee during the era of former President Joe Biden, said that the project’s focus on the cross -border payments is especially concerned and that foreign entities may invest as a way to gain reconciliation with Trump.
“There is a lot of ostrich on this market, and previous relations with illegal financing,” Frayer He said The New York Times.
American policy makers have already noticed the possibility of foreign influence after the launch of Mimikoen called Trump’s flag in January.
At that time, Democratic Representative Maxine Waters – a great democracy in the Financial Services Committee in the House of Representatives – books “Anyone at the global level, even individuals who are punished by the United States or banned from our capital markets, can now trade and profit from $ Trump through various notable platforms.”
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In addition to the possible foreign influence, observers are concerned that Trump’s encrypted projects can threaten the stability and integrity of the market and open global markets for manipulation.
In reference to USD1, Heath May, founder of the principles of conservative movement in Trump first, first, He said The head of sitting, which is issued by a general debt, should be illegal, adding that the project “has terrible incentives and a corrupt use of US tax motivation.”
Rousseau said that the role of the president in the Stablecoin project and at the same time works to formulate Stablecoin’s legislation in the form of the law of genius is “a constitutional violation that can destabilize the organizational integrity.”
Trump’s influence on industry and the ability to drop enforcement measures against the CEO of encryption they support him creates “uneven field, grieves competitors and violates the principles of equal protection under the law.”
Options for conflicts of interests in Trump
Trump, who has long stated closely with former President Andrew Jackson, appears to be it Adhere to the last strategy From recognizing judicial ruling – then doing what he wants regardless.
The presidential administration has already shown that it is ready to challenge orders from federal judges when it was earlier this month ignorance Optimized by a federal judge to roam two planes full of alleged gang members heading to the terrorist imprisonment center in El Salvador.
With regard to encryption, Senator Elizabeth Warren is already He called for ethics in Trump’s encryption activities. She said that the president “enriched Trump on a large scale personally, enabled the encryption industry mechanism to transfer money to him, and created volatile financial assets that allow anyone in the world to fill in Trump’s political wealth.”
Warren, a long -standing cashier, has taken the goal of WLFI. source: Senate Banking Committee
The investigation, if there is an opportunity to start, does not seem to go anywhere, and the Republicans in Congress are busy working in the law of the genius, which is supported by a handful of Democrats.
What, if there is anything, can it be done?
Rousseau said that despite the changes in the leadership of the Supreme Education Council, other agencies such as the Financial Crime Enforcement Network are still continuing to follow up on investigations.
He also pointed out that working at the state level of local organizers and general lawyers “not only is possible, but is necessary, especially in the states that have strong laws of consumer protection.”
He added that international organizational bodies can exert pressure, noting that the “global nature” of encryption means that foreign governments can work for better supervision and the most powerful regulations.
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In any case, he said that the current situation requires multi -faceted measures, as there is currently a need to “protect the principles of fair governance and maintain the credibility of the United States in the global financial system.”
Some people in the encryption industry do not see any problem at all and believe that the president’s participation is just another sign of how the industry has reached the prevailing attractiveness.
Chris Barrett, Chief Communications Director at Chainlink, here The project, saying that “the global financial world is working on the US dollar, and Stablecoins is about to make it more difficult to change.”
“The increased validation of the world’s leading brands validation reflects that Stablecoins retains the prevailing financial industry path to access coding assets and distinctive realistic assets.”.
Blockchain – industry reaction group – refused to comment.
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