Key Takeaways
- A report has prompted Senators Warren and Reed to demand a federal investigation into World Liberty Financial, a Trump-family-backed crypto venture.
- Allegations suggest the Trump-linked crypto firm may have connections to actors in North Korea and Russia.
Senators Elizabeth Warren and Jack Reed have called for an investigation into World Liberty Financial, a Trump family-linked crypto company, over its $WLFI token sales to entities allegedly tied to North Korea, Russia, and other sanctioned actors, according to CNBC.
The senators urged officials to examine the crypto venture’s compliance practices, especially as Congress considers legislation that could shield governance tokens like $WLFI from regulatory scrutiny.
The Trump family’s crypto operations have faced scrutiny for potential conflicts arising from global token distributions, with lawmakers seeking clarity on the venture’s international business connections and compliance practices.
Source: https://cryptobriefing.com/senators-probe-world-liberty-financial-wlfi-token/