ISC

The Wall Street Journal: Binance executives meet with U.S. Treasury officials to discuss easing government regulations on the company

ChainCatcher news, according to The Wall Street Journal, the enthusiasm of U.S. President Trump and his family for cryptocurrencies has made the industry one of the biggest winners in his second term. Given Trump's vast business interests, critics have raised ethical concerns.Representatives of the Trump family have discussed investing in Binance.US. This would involve the U.S. president conducting business with a company that has acknowledged violations of anti-money laundering laws. Binance executives have also met with officials from the U.S. Treasury to discuss easing government regulations on the company. Binance founder and major shareholder Changpeng Zhao recently stated that his lawyers have formally applied for a pardon. Last year, he served four months in prison due to related charges.The Trump family also owns a company called World Liberty Financial, which was established last September. Trump's sons Donald Jr., Eric, and Barron are all involved in this venture, with the Trump family controlling about 60% of the company's equity. Sun Yuchen invested $75 million in the project, further propelling this momentum. In February, the U.S. Securities and Exchange Commission (SEC) requested the court to suspend a lawsuit accusing Justin Sun and his companies of fraud.Trump's team is trying to push Congress to pass two cryptocurrency bills in the coming months: one to establish the first regulations for stablecoins, and another to specify which crypto products are regulated as securities by the SEC and which are regulated as commodities by the Commodity Futures Trading Commission (CFTC). The Senate is expected to vote soon on its version of the stablecoin bill. Some Democrats oppose the bill, citing potential conflicts of interest for Trump and the activities surrounding stablecoins.
ChainCatcher Building the Web3 world with innovators