Trump's Altcoin and Crypto Regulations Spark Debate: Is It a Security Issue? - Coin Bulletin

The cryptocurrency industry is waiting for Donald Trump to issue an executive order that will provide a more positive regulatory framework for crypto assets.

This potential move is causing serious criticism due to Trump's own business relationships. Democrats warn that the president's financial interests could be directly affected by these regulations.

Trump's family-owned crypto initiative World Liberty Financial and its associated TRUMP token appear poised to gain value with new regulations. This has drawn criticism from many, including senior Democratic member Gerry Connolly of the House Oversight Committee.

In the letter he sent to the Republican Committee Chairman, Connolly used the phrase 'This committee should immediately investigate the serious conflicts of interest that Trump brought to the presidency.' However, it is not expected that this call will lead to an official investigation due to Trump's strong position within the party.

On the other hand, Maxine Waters, the senior Democratic member of the House Financial Services Committee, believes that Trump's memecoin initiative could threaten national security. Waters said, "Trump has created a way to bypass national security and anti-corruption laws through memecoin. This token could be purchased by large corporations, allied countries wanting to show their loyalty to Trump, or rivals like Russia and China."

Waters also argued that Trump's move not only affected himself but also negatively impacted the crypto sector, which has been struggling to gain legitimacy for a long time. Despite previously working on a bipartisan stablecoin regulation bill, this initiative was not successful. However, the Democratic representative will continue to express his views on crypto regulations in the new session.