Dems seek suspicious activity reports linked to Trump crypto ventures 🕵️♂️
Democrat lawmakers in the U.S. have sent a letter to the U.S. Treasury seeking access to suspicious activity reports (SARs) related to Trump-backed crypto projects. The letter, penned by representatives Connolly, Morelle, and Raskin, urges Treasury Secretary Scott Bessent to provide these reports, especially concerning World Liberty Financial (WLF) and the TRUMP token, filed since 2023.
The investigation aims to determine if legislation is needed to prevent violations of campaign finance, consumer protection, bribery, securities fraud, and other anti-corruption laws. The Democrats have expressed concerns about WLF being misused for foreign influence, particularly given its partial sale to foreign investors, who face less regulation than U.S. investors.
Financial institutions must file SARs with the Financial Crimes Enforcement Network when they detect suspicious activity. This inquiry also covers other entities, including WinRed, America PAC, and Elon Musk's super PAC.
The probe is one of several Democratic efforts targeting Trump's crypto ventures, raising concerns about potential conflicts of interest and the need for tighter regulations.
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