Two senior Democratic legislators are calling for the U.S. Securities and Exchange Commission (SEC) to preserve all records related to World Liberty Financial (WLFI), a cryptocurrency firm reportedly supported by members of former President Donald Trump’s family.

This demand for transparency was articulated in a letter dated April 2 and directed to acting SEC Chair Mark Uyeda by Senator Elizabeth Warren and Representative Maxine Waters.

Warren and Waters expressed worries regarding potential conflicts of interest due to the Trump family’s involvement with WLFI. They respectively lead the Senate Banking Committee and the House Financial Services Committee.

Lawmakers Warn Trump Ties Could Undermine SEC’s Regulatory Integrity

They cautioned that these connections might influence the SEC’s regulatory stance, possibly undermining its mission to protect investors and uphold fair financial markets.

“The Trump family’s financial stake in World Liberty Financial represents an unprecedented conflict of interest,” the letter asserts.

This letter was sent following recent updates concerning WLFI, which has launched a stablecoin named USD1 on both the BNB Chain and Ethereum, amid escalating worries about Trump’s increasing involvement in cryptocurrency.

Key Takeaways

• Lawmakers are urging the SEC to preserve all records related to Trump-linked crypto firm World Liberty Financial.
• Concerns have been raised over potential conflicts of interest and the SEC’s regulatory independence.
• Trump’s growing crypto involvement may influence policy, market behavior, and future SEC leadership.