Democratic U.S. Representatives Call on Treasury Department to Investigate Potential Conflict of Interest and National Security Risk Related to WLFI

BlockBeats News, February 20th, according to CNBC, dozens of Democratic members of the U.S. House of Representatives on Thursday wrote to U.S. Treasury Secretary Yellen requesting an investigation into potential conflicts of interest and national security issues related to the Trump family's cryptocurrency project, World Liberty Financial.

The letter was led by New York Democratic Congressman Gregory Meeks and co-signed by 40 other members of Congress. Meeks called Yellen a "henchman" of Trump's during a hearing and questioned the investment of $500 million by a member of the UAE royal family in World Liberty Financial last year. In a statement released with the letter, Meeks said, "The Trump family's $500 million transaction with the UAE royal family is not only a matter of national financial stability, but also involves serious national security implications."

At the time of the investigation request, World Liberty Financial was in the process of applying for a national bank charter. The charter is reviewed and issued by the Office of the Comptroller of the Currency, a subsidiary of the U.S. Treasury responsible for regulating the banking industry.