A member of the Democratic Party urged the US Treasury to stop any attempt by the Trump administration to create a Strategic cryptocurrency reservesPossible condemnation Conflict With the former president.
Home representative Gerald E. ComponentFrom Michigan, she expressed strong concerns in a letter sent on March 13 to the Treasury Secretary, Scott Pesin. In the letter, Connely argues that creating an encrypted currency will attend There is no concrete benefit for the AmericansBut not only Trump and his financial supporters.
Trump and Strategic encryption reserve: A harmful plan for taxpayers
Conoli’s criticism focuses on the financial effects of this initiative. A deputy condemns that the potential strategic reserve is on the basis Bitcoin and other cryptocurrencies It will represent Allocating public resourcesIn favor of some digital currencies on others through a social media candidate.
Moreover, it highlights how Federal Reserve Refuse the idea, and invited it “The most stupid ever”. Component States There is no strategic necessity that justifies government investment in a Very fluctuations and speculation The market is like those of encrypted currencies.
“The General Reserve of Bitcoin will not be more than speculation with the support of taxpayers, which guarantees the Bitcoin merchants that in the event of a collapse in the market, the state will enter to save them.”
Casa Bianca responses
The Trump administration responded to criticism by clarifying that Digital assets stocks Current currencies will already be stored Sources in criminal or civil procedures. Moreover, I mentioned that Bitcoin Reserve It will be funded by budget neutral strategies, without effects on taxpayers.
However, Connoli accused the former president of existence CongressFollow -up without consulting or obtaining official permission to create a bitcoin reserve.
HTML
Trump and Constiti Di Intesse
“
The other central point of criticism is related to Possible conflict of interests Between Trump’s presidency and his own affairs. The most highlighted the relationship between Trump and The world is financial freedomTrump’s encrypted currency platform.
The deputy also received accusations against the official Mimikoin $ Trump for Trump, described as a “A million dollar fraud” It has produced entities linked to Trump $ 100 million in trading fees.
According to Konoli, the distinctive symbol represents The largest personal enrichment scheme in Trump I realized ever. Another democratic representative, Maxine waterI also criticized the project Part of it with a fraudulent scheme During a speech on January 20.
Request documents and transparency
Konoli’s request from bessent submitted Documents and Communications Concerning the creation of Bitcoin reserves and a full list of measures taken by the Trump administration To avoid conflicts of interests.
The deputy also requested the list of companies held by the treasury Financial interests related to encrypted currencies. Among his inquiries is the issue of whether it is Presidential Working Group in digital assets markets to examine Financial data for senior management officialsIncluding the pole Elon Musk.
Bitcoin reserve structure
According to management plans, Bitcoin strategic reserves The beginning will be formed from Crossed currencies were confiscated in legal proceduresWhile the stock of digital assets will include other digital currencies such as XRP, Solana, Cardano and ethereum.
However, there are still many questions about the role of this reserves and potential political and financial effects of the accumulation of currencies coded by the state.