Lawmakers raise national security concerns over reported investment in Trump family’s crypto firm by UAE officials.
Five Senate Democrats urged an investigation into a $500M cryptocurrency deal between the Trump family and United Arab Emirates officials, citing potential national security risks. The lawmakers questioned whether the investment influenced policy decisions, including regulatory exemptions for crypto service providers and the disbandment of a Justice Department enforcement team.
The letter follows prior calls for scrutiny, including a February request to Treasury Secretary Scott Bessent to assess if the deal required a Committee on Foreign Investment review. Democrats also previously pressed SEC Chair Paul Atkins over the dismissal of a fraud case against a major backer of Trump’s crypto venture.
No immediate market reaction was reported, but the probe could heighten regulatory uncertainty for crypto assets tied to political figures.