Democrats press bank regulator on Trump stablecoin conflicts

Democratic senators have asked Comptroller of the Currency Jonathan Gould to explain how he’ll prevent Donald Trump from influencing stablecoin rules that may benefit his family.

Crypto-skeptic US Senator Elizabeth Warren has led a letter to the Office of the Comptroller of the Currency expressing concerns over potential conflicts of interest involving the Trump family’s crypto business interests.

Warren, along with Senators Chris Van Hollen and Ron Wyden, said in a letter to OCC head Jonathan Gould on Thursday that they’re concerned over “Trump and his family’s continued use of cryptocurrency business ventures to line their pockets.”

They requested information on the steps the OCC will take to ensure that President Donald Trump’s “financial conflicts of interest do not influence the OCC’s efforts to ensure the safety and soundness of our banking system.”

Read more