The post Trump’s USD1 Stablecoin Under Fire as Senators Demand OCC Action appeared first on Coinpedia Fintech News
President Trump’s family is deep in crypto and lawmakers want answers.
Three top Democratic senators are pressing U.S. bank regulators to explain how they plan to handle what they say is a serious conflict of interest: the President of the United States overseeing crypto regulation while his own family profits from it.
In a letter to Office of the Comptroller of the Currency (OCC) head Jonathan Gould, Senators Elizabeth Warren, Ron Wyden, and Chris Van Hollen raised concerns over Trump’s ties to a new stablecoin called USD1, launched by his family’s crypto firm, World Liberty Financial.
Crypto Rules Written by Those Who Profit?
The issue comes just weeks after Trump signed the GENIUS Act, a new law that gives the OCC broad authority over stablecoin regulation. That makes Gould the top cop in a space where the Trump family is now directly involved.
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