Update (May 5th at 3:27 pm UTC): This article has been updated to include the opinions of Niko Demchuk and Yarden Noy.
US President Donald Trump will hold a gala dinner for the best holders of his official Trump (Trump) memo despite the criticism and impeachment of both parties.
In the Truth Social Post on May 5, Trump announced on May 22 that it would hold a Gala dinner with Trump holders, which expressed concern about initiatives with several US lawmakers.
At the end of April, Senator Elizabeth Warren in Massachusetts, Senator Elizabeth Warren, urged officials to solve Trump’s memes and questions related to his media company. The debate grew after Trump announced dinner and White House tours for Trump Memoin.
“Trump’s announcement promises a monopoly approach to the president in exchange for significant investments in one of the president’s business ventures.”
Request for impeachment against memes
At the end of April, Senator John Osoff expressed his support for the impeachment of Trump, citing the president’s plan to host dinner for Trump Memo holders at the City Hall on April 25. He said:
“There is no doubt that when the US president sells access to what he effectively pays, he will go up to the level of impeachment.”
Cynthia Lummis Senator and other Republican Senator of Congress also criticized Trump to provide dinner and White House tours to Memecoin’s top holders. Wyoming’s Lummis said that the president of the United States is “stopping for her” for those who can exclusively approach themselves and the White House.
Warren insisted that the market value surged due to the “shaded cryptocurrency with the United Arab Emirates” related to the Trump family’s stablecoin using USD1 to solve investment. She insisted that this raised a serious national security issue and warned of passing a encryption -friendly bill for the Senate.
Warren expressed concern about foreign participation in the US presidential finance. She also suggested that the Senate should refrain from approval of pro -crypto bills.
“The Senate should not pass the encryption bill to promote this kind of corruption this week.”
relevant: Encryption Renaissance in the United States is already failing. But we can fix it
Niko Demchuk, a legal director of Crypto Compliance Firm AMLBOT, is concerned about Senator Warren’s concern about the “professional krypto” law of Senator COINTELEGRAPH. He said he emphasized continuous tension between solving. He added that lawmakers can balance them by implementing protection measures such as public requirements, conflicting rules of profits and independence audit.
“These protection measures solve the concerns of Warren by prioritizing transparency and responsibility without interfering with the development of legitimate stability. They can remain as the hub of responsible innovation in the United States to protect the misuse of civil servants or foreign actors.”
According to Yarden Noy, a partner of Crypto law firm DLT LAW, regulatory or public requirements are not applied to such Starble Recon transactions. “The president’s legal team can create a very powerful case that regulatory or public requirements will not be applied here.”
NOY pointed out that some restrictions and disclosure, including the ban on the constitution, may be applied, but in this case “very doubtful.” He added:
“The United States must solve the problem without blaming the technology used.”
In a recent interview with Senator Warren’s Senator, he provided conflicting answers to whether Trump got the benefits of the memes that started in January a few days before entering the White House. During the clip, the president insisted that he had gained profits from his efforts.
relevant: Elizabeth Warren
Arab Emirates Contract
On May 1, MGX, an investment company based in Abu Dabi, used Trump-backed stablecoin USD1 to solve $ 2 billion in Binance. According to CoinmarketCap data, Stablecoin’s market cap has increased from $ 130 million on May 1 to nearly $ 2.1 billion in May 2.
Eric Trump announced the contract in a panel discussion held in Token2049 in Dubai. Trump’s son Trump is a vice president of Trump’s organization. He said during the event:
“The United States is seeing that the financial world should be in progress. It’s a joke. Why do banks run nine to five times in Monday to Friday and 1 and a half hours of lunchtime?”
Like Memecoin, the USD1 Stablecoin has attracted a fair ratio of criticism. In early April, some US lawmakers insisted that Trump wanted to replace US dollars with USD1.
magazine: Trump’s encryption venture raises conflicts of understanding, internal rich trading questions.