Sen. Warren Ramps Up Pressure on Trump’s Crypto Ties Amid Bipartisan Market Structure Bill Negotiations
Senators Elizabeth Warren and Jack Reed have sent a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi seeking information about reports alleging that World Liberty Financial Inc. sold tokens to North Korea, Russia, and other illicit actors. The senators expressed concerns regarding due diligence lapses and the potential for sanctions evasion or anti-money laundering (AML) violations.
This inquiry highlights concerns over possible conflicts of interest as President Trump pursues crypto-friendly policies that could benefit World Liberty Financial Inc. and affiliated financial interests. Meanwhile, Democrats on the Senate Banking Committee are negotiating a cryptocurrency market structure bill with Republicans, aiming to hold a markup before the end of the year. However, a draft from the Senate Agriculture Committee remains delayed due to unresolved issues.
Lobbyists active in the cryptocurrency sector describe the ongoing negotiations as unusually secretive, indicating that substantive language discussions might currently be underway. Notably, Republican drafts have not supported a strict ban on senior government officials maintaining crypto ties, in contrast to certain Democratic proposals.
These developments underscore intensified scrutiny of Trump-linked cryptocurrency connections, occurring as Congress attempts to establish regulated crypto markets through bipartisan legislation.
