The Doj reduces efforts to fight against cryptocurrency fraud
The Ministry of Justice plans to reduce its legal fight against cryptocurrency fraud, according to a memo on April 7.
Straight Arrow News
Washington – Congress Democrats are increasingly concerned about President Donald Trump’s personal ties with the cryptocurrency industry, which launches a key in bipartite efforts to regulate digital currency.
Two of the cryptocurrency investments held by entities affiliated with Trump made at least $ 300 million in negotiation costs on sales of his meter and other digital currency since January.
At the end of April, a company affiliated with Trump promoted the room even $ Trump by offering a “Private intimate dinner“With the president of his northern Virginia golf club, after which the value of the room increased Up to 80%.
And another family crypto business from Trump, World Liberty Financial, announced on May 1 that one of its digital documents was used by a Investment company supported by the government of Abu Dhabi For an investment of 2 billion dollars in the cryptocurrency exchange – a major expenditure of a foreign government for the benefit of Trump’s family.
At the same time, the administration is evolving to support the growth of cryptographic industry in the United States, in particular by creating one “Strategic bitcoin reserve“And digital assets store and decreases with a repression of the Biden era against industry.
Capitol Hill legislators also planned to advance legislation this week to create a regulatory framework for Stablecoin, a type of crypto linked to the value of another asset such as the dollar, in order to remain stable. The bill was Aggressively supported by cryptographic lobbyists and should accelerate the growth of money.
But nine Democrats who had previously supported the bill suddenly announced on May 3 that they would no longer support The Stable bill, nicknamed the GeniusCiting the concerns that legislation does not do enough to prevent money laundering and protect national security.
At least seven democrats would be necessary to adopt legislation in the Senate, where legislators need at least 60 votes to overcome the filibusier. The Democratic leader of the Senate, Chuck Schumer, D-New York, told journalists several times that “Democrats and the Republicans were talking about others” while the head of the majority of the Senate John Thune, R-South Dakota, said that the Senate will proceed to a vote despite everything.
Trump is organizing a fundraising dinner of 1.5 million dollars with Crypto Czar
President Donald Trump organized a fundraising dinner of 1.5 million dollars at the plate at the Trump National Golf Club of Sterling, Virginia.
without brand – worthy of interest
Rep. Maxine Waters, D-California, Out of a chamber committee Hear on cryptocurrency on May 6 “because of the corruption of the President of the United States and his property of Crypto and his surveillance of all agencies.”
Senator Adam Schiff, D-California, called for a Government ethics office The investigation into the president’s cryptographic connections, and Senator Richard Blumenthal, the best democrat of the Senate’s permanent subcommittee, launched his own investigation into Trump’s profits.
Blumenthal demanded information on trade structures and potential interests of World Liberty Financial and Fight Fight Fight (the company linked to Trump which owns the $ Trump same) in letters on May 6, which were considered by USA Today.
“Donald Trump sells cryptocurrencies like snake oil in the West West, and he put a panel for sale in the White House for his same room,” said Blumenthal. “People in America deserve to know how it is potentially under the influence of foreign governments and investors who buy its cryptographic assets.”
Sense. Jeff Merkley, D-ear and Schumer plan to present a bill on May 7 which would prohibit the president, the vice-president, the members of the Congress and their families Creation of cryptographic assets. He is coparrained by Senator Kirsten Gillibrand, D-New York, who is also a co-groan of the Act on Engineering.
“This is not a situation where someone spends a few thousand dollars under the table as a bridge pot. This is a situation where – on the table, at the sight of the public – the president sells access to his office,” Merkley told USA Today. “If we want to have credibility in work for the people, we must end this largely corrupt company in which the president is committed.”
While the Democrats remain the minority both in the House and the Senate, the obstacle gives democrats a certain lever effect on the fate of legislation in the upper chamber.
White House spokesperson Anna Kelly said in a statement that Trump was “dedicated to making America the world capital of cryptography”.
“His assets are in trust managed by her children, and there are no conflicts of interest,” she said.
Experts, the senator warns Trump pressure to take advantage of the presidency
Trump scrambled the traditional lines, seeking personal wealth through crypto, real estate, social truth and brand goods during his presidency.
It is not only the Democrats who have raised concerns about cryptographic legislation in the Senate. Sense. Josh Hawley, R-Missouri, John Kennedy, R-Louisiana and Rand Paul, R-Kentucky, said this week that they do not know if they can support the act of genius.
Senator Bill Hagerty, R-Tennessee, the main sponsor of the legislation, said that he is negotiating with the Democrats to obtain their support for the bill. After months of work, he said: “We are about to finish everything and I expect it to be concluded by the end of the week.”
Contribution, Josh Meyer
