US Lawmakers Demand SEC Transparency on Trump Crypto Connections
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Senator Elizabeth Warren and Representative Maxine Waters have demanded full disclosure from the U.S. Securities and Exchange Commission (SEC) on the Trump family’s ties to the crypto firm World Liberty Financial (WLFI).
In a letter sent on April 2 to acting SEC Chair Mark Uyeda, the lawmakers requested that Congress receive all records and communications related to WLFI and its connection to President Donald Trump’s family. They emphasized that Congress needs this information without delay.
Trump Family’s WLFI Ties Spark Conflict of Interest Fears
The two ranking members of the Senate Banking Committee warned that the Trump family’s financial interest in WLFI poses a clear conflict of interest.
DEMOCRATIC LAWMAKERS ASK US SEC TO PRESERVE RECORDS ON TRUMP, WORLD LIBERTY FINANCIAL –LETTER
U.S. LAWMAKERS CONCERNED ABOUT TRUMP’S INFLUENCE ON REGULATOR DUE TO FAMILY’S CRYPTO BUSINESSES –LETTER
— *Walter Bloomberg (@DeItaone) April 2, 2025
According to the legislators, the family’s interest could influence the SEC’s regulatory actions and compromise its mandate to protect investors and maintain orderly markets.
They expressed concern that this conflict might lead the Trump Administration to favor crypto initiatives that directly benefit the President’s family.
The letter calling for transparency comes only a week after WLFI launched USD1, a stablecoin on the BNB Chain and Ethereum blockchain.
This development follows other crypto-related developments linked to Trump, including proposals for a national cryptocurrency stockpile and the launch of the TRUMP memecoin, all of which raise questions about regulatory impartiality.
The lawmakers emphasized the need for transparency and accountability, arguing that the American public should know if regulatory decisions serve the broader interest of market fairness or the financial interests of the President’s family.
Their concerns gain weight in light of recent developments at the SEC.
Since Trump appointed Mark Uyeda as acting chair, the commission has reportedly halted investigations and enforcement actions against several crypto firms — including those led by executives who contributed directly to Trump’s 2024 campaign.
Trump’s Pro-Crypto Policies Face Resistance as SEC Speeds Up Regulations
President Donald Trump has consistently promoted pro-crypto policies since his campaign days.
According to Bitcoin laws, more than 100 crypto-related bills have surfaced at both state and federal levels, with 47 of these proposals concentrating on creating strategic Bitcoin reserves.
Among the most notable are an executive order to create the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile, along with Senator Cynthia Lummis’ reintroduced BITCOIN Act.
These efforts, however, have faced growing bipartisan resistance.
In March, Democratic Representative Gerald E. Connolly urged the U.S. Treasury to halt any plans to establish a strategic crypto reserve, warning that it could create a significant conflict of interest by primarily benefiting Trump and his financial backers.
Even the SEC has come under scrutiny, with critics pointing to the dismissal of several high-profile cases, including those involving firms led by executives who contributed to Trump’s 2024 campaign.
One such case is the dropped lawsuit against Kraken. While many in the crypto community celebrated it as a major win for the industry in the U.S. and globally, questions have emerged about the proceedings.
In response, the SEC has reiterated its commitment to establishing clearer regulations and crypto laws. Its Crypto Task Force is hosting a series of discussions with industry stakeholders to advance that goal.
