Senate members are asking about WLFI Stablecoin from Trump about the conflict of interests
Five Democratic Senate members, led by Elizabeth Warren Claiming answers One of the new American organizations about the inconsistency of the potential interests associated with the new World Liberty Finance (WLFI), USD1.
The encryption company, backed by President Trump’s family, has raised concerns within the Senate Banking Committee. March 28 letterThe main officials, including Michelle Bowman, of the Federal Reserve and Rodney Hood from the currency observer office, called for their plans to organize WLFI and Stablecoin.
Congress to decide on stablecoin rules
The message comes at a time when Congress discusses the law of a genius, a new bill aimed at organizing Stablecoins. If passed, the National Innovation and Establishment Law of Stablecoins (Genius) would give the Currency Observer Office (OCC) and the Federal Reserve the authority to supervise Stablecoin exporters such as WLFI and USD1, which represents a major transformation in Crypto.
In February, Trump Fell The executive thing that imposes federal agencies, such as OCC, to coordinate regularly with the White House, allowing the president more control over federal decisions and policies.
“President Trump’s participation in this project is appointing financial organizers for their independence and Congress simultaneously [Fed and OCC]”I noticed the message.
“The launch of Stablecoin is directly linked to a seated president who financially benefits from the success of Stablecoin, which is unprecedented risks to our financial system.”
Senate members raise red flags on Trump’s relations
Senate members are wondering how organizers can oversee effectively on WLFI, taking into account his close link with the current president. At the same time, Congress pushes new laws to regulate Stablecoins – successful currencies aimed at working like a dollar to make value or buy other encryption assets.
It was launched in March 2025, Stablecoin from WLFI as a direct competitor in the prosperous digital currency market. Available on the main Blockchains like Ethereum and BNB chain, the limited transparency of the project raised doubts between critics.
Since its launch in September 2024, WLFI raised $ 550 million through general symbolic sales. The project attracted attention due to its political relations, as Donald Trump Junior is promoting.
