Lawmaker alleges Trump wants to replace US dollar with his stablecoin

California Representative Maxine Waters, ranking member of the US House Financial Services Committee, used her opening statement at a markup hearing to criticize President Donald Trump’s business and ethical entanglements with the crypto industry, including the launch of a stablecoin by a family-backed company. Addressing lawmakers at an April 2 hearing, Waters said Trump had used his position as president to leverage “multiple crypto schemes” for profit, including a US dollar-pegged stablecoin launched by World Liberty Financial (WLFI) — the firm backed by his family. The California lawmaker pointed to Trump’s memecoin launched in January, his plans to establish a national cryptocurrency stockpile, and “his own stablecoin,” referring to WLFI’s USD1 token launched in March. Rep source: https://cointelegraph.com/news/maxine-waters-donald-trump-replace-us-dollar-stablecoin?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound