Strong political opposition against crypto law that will allow foreign regimes to finance Trump

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Last Updated on 8 May 2025 by CryptoTips.eu

Several Democratic senators have voiced strong opposition to crypto legislation that they say would allow political regimes in other countries to pay US President Trump for favors. In the midst of all the furor is a company called World Liberty Financial.

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Genius

For months, the crypto bill seemed headed for easy passage in the U.S. Congress. The so-called Genius Act had bipartisan support, and was set to go to a vote this week. But during that meeting, Democratic senators raised concerns that the legislation would directly benefit the Trump family’s crypto company.

Their concerns stem from the fact that Trump-affiliated crypto firm World Liberty Financial recently struck a deal to receive some $2 billion in direct deposits from an Emirati investment fund which is backed by the Abu Dhabi government.

Influence

“It’s a selling of influence, a conflict of interest, just a massive form of corruption we haven’t witnessed,” Senator Jeff Merkley, Democrat of Oregon, explained.

“And it needs to be ended.”

According to Senator Merkley, any regime that wishes to do so can now easily pay for influence with the Trump administration by simply making a payment in crypto to World Liberty Financial.

The US president has not yet officially responded to the allegations, but given his temper, he won’t wait too long.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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