Senior Democrats Pressuring Treasury to Stop Trump’s Strategic Bitcoin Reserve Plan
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A Democratic lawmaker has urged the US Treasury to halt any efforts to establish a strategic crypto reserve, citing potential conflicts of interest with former President Donald Trump and arguing it would not benefit the American public.
Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a letter dated March 13 to Treasury Secretary Scott Bessent. He claimed it offers “no discernible benefit to the American people” and would mainly enrich the president and his supporters.
Connolly expressed concerns over both the Strategic Bitcoin Reserve and the Digital Asset Stockpile, stating that Trump’s plans would represent “unsound fiscal policy” by favoring certain cryptocurrencies via social media.
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