Lawmakers allege conflicts of interest as Trump’s crypto holdings generate over $1.2 billion in income amid stalled legislation.
Five Senate Democrats requested hearings into former President Donald Trump’s crypto holdings after disclosures revealed $1.2 billion in related income last year. The lawmakers cited concerns over potential conflicts of interest, foreign influence, and Trump’s influence on crypto policy while profiting from the sector.
The push follows stalled progress on the Clarity Act, which includes ethics provisions targeting Trump’s crypto ventures. Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden lead the effort, representing key committees overseeing finance and enforcement.
The lawmakers highlighted Trump’s role in shaping crypto regulations, including moves to exempt cryptocurrencies from financial services rules and weaken enforcement efforts.