Five Democratic U.S. senators called for a hearing, saying the impact of President Donald Trump’s cryptocurrency holdings and profits on national security and legislation must be examined.
Cointelegraph reported on Thursday that as the Senate prepares to vote in July on the digital asset market structure bill known as the CLARITY Act, the senators raised the possibility of a conflict of interest involving Trump.
Five Democratic ranking members of Senate standing committees and subcommittees pointed to Trump’s 2025 financial disclosures. Trump reported about $1.4 billion in income tied to crypto businesses, including his memecoin and the World Liberty Financial platform involving his family. The senators said concerns have grown that Trump is pushing Congress to pass crypto legislation favorable to an industry from which he profits.
The lawmakers called for each committee to examine how Trump’s crypto holdings affect national security and to investigate whether the United Arab Emirates or an unidentified third party influenced Trump’s actions.
Chi-gyu Hwang
delight@d-today.co.kr