Elizabeth Warren and Jack Reed press Treasury and Justice officials over World Liberty Financial’s alleged token sales to sanctioned actors, as crypto legislation talks continue in the Senate.
Democratic Senators Elizabeth Warren and Jack Reed have formally urged Treasury Secretary Scott Bessent and Attorney General Pam Bondi to investigate World Liberty Financial Inc., a firm reportedly linked to President Donald Trump. The senators cited claims from watchdog group Accountable.us that WLFI sold tokens to North Korea, Russia, and other banned entities, raising concerns over sanctions evasion, money laundering, and terrorist financing. While Warren maintains her opposition to the crypto industry and warns of Trump's conflicts of interest, other Democrats on the Senate Banking Committee continue bipartisan negotiations on a crypto market structure bill. Advocates hope for committee markup before year-end, though the Senate Agriculture Committee’s draft still requires work. Republican lawmakers have yet to agree to Democratic demands for banning senior officials from crypto business ties.