On Wednesday, the US Senator Elizabeth Warren (D-Ma) focused on a Stablecoin-oriented bill that took its way through the congress, in which US President Donald Trump was accused of using legislation to promote his own financial interests.
The Senator of Massachusetts shared the criticism as he connected a position on the decentralized financial project of President Trump, World Liberty Financial, and launched his own Stablecoin USD1 at the BNB chain of Ethereum and Binance.
Warren expressed her worries about social mediaclaims that President Trump uses the project as a “Graorg” to “enrich himself” himself.
“The congress must increase and resolve the current Stablecoin bill that is going through the Senate that will make it easier for Trump – and Elon Musk – to take control of your money,” Warren wrote, criticized the “financial innovation and technology for the 21st century law” (Fit21) Bill.
The Fit21 Bill tries to create a clear regulatory framework for digital assets, where our rep. French Hill (R-Ar), which states in the “following days”, the legislators roll out a revised bill.
In the meantime, the Trump government is moving to make the US the “Crypto capital of the world” through a series of initiatives, including creating a Sec Task Force devoted to the supervision of the regulations of digital assets.
President Trump also called for “simple, common sense rules for stablecoins and market structure” during a video call on the Block Crypto conference in New York last Thursday.
The stabile Markt currently has more than $ 238 billion in circulation, according to Coingecko factsof Connect (USDT) make a significant part.
Trump’s crypto tsar, David Sacks, has earlier promised To introduce legislation on stablecoins and market structures within the first 100 days after Trump’s second term.
The Senator of Massachusetts recently Chases To prove that he does not “benefit directly from the Trump government’s efforts to selectively pump the value of certain crypto assets,” as he claimed he Sold all his crypto assets Before he started in his role as a crypto tsar.
Elon Musk’s influence within the government, in particular due to his role in the Department of Efficiency of the Government (Doge), Warren’s worries only fueled.
The initiative, which Musk Heads, aims to reduce government bureaucracy and to eliminate surplus regulations, but has it confronted with criticism For the potential to give musk – and by extension, his business interests – a disproportionate amount of influence on American financial policy.
In January, Warren shot Doge in a letter to the Dogecoin Aficionado and accuses the Ministry of a potential ‘location for corruption’.
The letter from the senator to Musk suggested a series of changes, including the fighting of tax patches for the rich and reforming government contracts to reduce waste expenditure.
Edited by Sebastian Sinclair
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