US Democrats Demand Treasury Submit Suspicious Transaction Reports on Trump's Virtual Asset Business
JH Kim
Summary
- The US Democrats have reportedly demanded the Treasury submit suspicious transaction reports related to President Trump's virtual asset business.
- The Democrats are urging an urgent investigation, claiming that the Trump family's virtual asset projects may violate election funding laws, bribery, and securities fraud.
- With mentions that this investigation could lead to legislation, it was also stated that the processing of stablecoin regulation bills has been postponed in the Senate due to the virtual asset projects.
According to cryptocurrency specialist media CoinDesk on the 14th (local time), key figures in the US Democratic House have demanded that the Treasury submit suspicious transaction reports (SARs) related to US President Donald Trump's virtual asset business.
The Democrats are urging an urgent investigation, claiming that virtual asset projects promoted by the Trump family, such as World Liberty Financial (WLFI) and Official Trump (TRUMP), may violate election funding laws, bribery, and securities fraud.
In the US Senate, the processing of stablecoin regulation bills has also been postponed due to the Trump family's virtual asset projects.
The Democrats also mentioned that this investigation could lead to future legislation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
