Trump-linked stablecoin USD1 may complicate bipartisan efforts to pass US stablecoin legislation, raising conflict of interest concerns in Congress.
A US dollar-pegged stablecoin launched by a cryptocurrency platform tied to US President Donald Trump’s family could complicate ongoing bipartisan efforts to pass stablecoin legislation in Congress, raising concerns about potential conflicts of interest.
The Trump-linked World Liberty Financial (WLFI) crypto platform launched the World Liberty Financial USD (USD1) US dollar-pegged stablecoin in early March, prompting concerns over potential conflicts of interest.
Despite political pushback from Democratic Party lawmakers, WLFI’s stablecoin plans are in line with the current US stablecoin legislation, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum.
