Source: Cointelegraph
Original: “Democrats Demand US Treasury Reports on Trump Crypto Ventures”

U.S. Democratic lawmakers have sent a letter to the U.S. Treasury Department requesting suspicious activity reports (SARs) related to several crypto projects supported by Trump, as part of an ongoing investigation into the president's digital ventures.

The letter, co-drafted by Representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin on May 14, requests Treasury Secretary Scott Bessen to provide all suspicious activity reports related to World Liberty Financial (WLF) and the official Trump (TRUMP) token since 2023.

U.S. financial institutions are required to submit suspicious activity reports to the Financial Crimes Enforcement Network under the Treasury Department when they detect suspicious activities, including potential money laundering or fraud.

The Democratic lawmakers have requested that the relevant departments provide any suspicious activity reports (SARs) involving WinRed, America PAC, Elon Musk, political action committees, PACs, Trump, World Liberty Financial, WLF, TRUMP, MELANIA, and Sun Yuchen by no later than May 30.

These Democratic lawmakers stated that their investigation aims to "determine whether legislation is needed to prevent violations of campaign finance, consumer protection, bribery, securities fraud, and other anti-corruption laws," and to guard against "financial misconduct related to potential or current federal officials."

As part of the investigation, the lawmakers noted in the letter that WLF may have been used as a "channel for foreign influence infiltration," as part of the token sales were specifically targeted at foreign investors, who "typically face less stringent regulatory requirements than U.S. investors."

Sun Yuchen's investment in WLF, along with the subsequent suspension of the U.S. Securities and Exchange Commission's lawsuit against the cryptocurrency entrepreneur for violations of securities laws, has also been flagged as a matter of concern.

The tokens launched by Trump are similarly under scrutiny, with lawmakers emphasizing in the letter that the anonymity of token purchasers could create opportunities for bad actors to "gain favor with Trump by purchasing tokens."

At the same time, the investigation also seeks to provide suspicious activity reports related to the Republican digital fundraising platform WinRed, Musk's super PAC (which injected $250 million into Trump's campaign), and two other political action committees.

This action is the latest offensive by Democrats against Trump's cryptocurrency business.

According to a Bloomberg report on May 9, a group of Democratic senators sent a letter to the leadership of the U.S. Department of Justice and the Treasury Department expressing concerns about Trump's relationship with the cryptocurrency exchange Binance, as well as potential conflicts of interest in regulating the industry.

U.S. Democratic lawmakers also launched a multi-faceted initiative on May 6, proposing two bills and initiating a subcommittee investigation directly targeting Trump's ability to profit from his cryptocurrency projects.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。