senator

A proposal has been made to investigate the crypto projects of the family of U.S. President Donald Trump as part of a probe into the business dealings of his eldest son, Donald Trump Jr. Senator John Curtis, a Republican from Utah, submitted the request to the leadership of the Senate Judiciary Committee.
In a letter dated September 21, Curtis pointed to Trump Jr.’s “active promotion” of the family’s cryptocurrency initiatives. He also cited international real estate deals, investments in the defense sector, and financial and advisory connections with prediction market platforms, which are influenced by federal regulators’ decisions.
Curtis suggested subpoenaing Trump Jr. and Hunter Biden, the son of former U.S. President Joe Biden. The senator aims to examine their business operations, relationships with foreign entities, received gifts, and other benefits, as well as instances where their familial ties to the head of state might have been valuable to counterparts.
The investigation’s goal, according to the letter, is to establish facts and determine whether existing ethics, disclosure, and anti-corruption regulations apply to such relationships.
Trump Jr.’s Involvement in Crypto Projects
Curtis did not specify particular cryptocurrency initiatives in his letter.
Trump Jr. is identified as a Web3 ambassador for the DeFi platform World Liberty Financial (WLFI). In 2025, the current U.S. president’s family consolidated control over the project through WLF Holdco. By that time, the platform had raised $550 million in two public WLFI token sales.
World Liberty Financial also issues the USD1 stablecoin. In June 2025, Donald Trump’s financial disclosure revealed that the president earned over $57 million from WLFI token sales.
Trump Jr. is also linked to prediction market platforms. In January 2025, Kalshi appointed him as a strategic advisor. In August, 1789 Capital, a venture fund where the president’s son is a partner, invested in Polymarket, after which he joined the platform’s advisory board.
Curtis specifically noted the dependence of such platforms on decisions by the U.S. Commodity Futures Trading Commission (CFTC). In his letter, he linked this factor to the potential value of proximity to the presidential family, without alleging that Trump Jr. broke any laws.
This is not the first attempt by lawmakers to examine potential conflicts of interest surrounding the president’s family’s cryptocurrency business. In May 2025, Democratic Senator Richard Blumenthal initiated a probe into Trump’s connections with World Liberty Financial and the meme coin TRUMP. He requested information on the financial flows and ownership structure of the projects.
In July 2026, Senator Elizabeth Warren proposed including a ban on crypto industry income for certain high-ranking officials and their families in the CLARITY Act. The proposal was prompted by Donald Trump’s financial disclosure.
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1. Deadlock Bipartisan yang Keras
Di hearing Senate Banking Committee tanggal 14 Mei lalu, Demokrat dan Republik masih belum menemukan common ground. Senator Lummis bilang hanya tersisa 1% perbedaan, tapi kenyataannya voting amandemen berjalan partisan -- hampir semua amandemen Demokrat ditolak sepihak.
2. Butuh 60 Suara di Senat — Sangat Sulit
Untuk lolos dari Senat, CLARITY Act butuh 60 suara - jauh di atas mayoritas sederhana. Artinya Republik harus merayu cukup banyak Senator Demokrat untuk bergabung. Dengan atmosfer partisan saat ini, itu bukan hal mudah.
3. Isu Konflik Kepentingan Trump/Keluarga Belum Selesai
Demokrat — termasuk Senator Gillibrand — tegas bilang RUU ini tidak akan lolos Senat tanpa klausul etika yang mencegah pejabat senior pemerintah (baca: Trump dan keluarganya) profit dari industri kripto. Negosiasi soal ini dilaporkan masih alot.
4. Coinbase & Industri Pernah Tarik Dukungan
CEO Coinbase Brian Armstrong sempat menarik dukungan dari CLARITY Act "sebagaimana tertulis", dengan alasan RUU ini berpotensi melarang tokenized equities, membatasi DeFi, memperluas akses pemerintah ke data keuangan, dan mengeliminasi stablecoin rewards. Kalau industri sendiri bisa balik badan, ini sinyal bahaya.
5. Isu Stablecoin Yield — Perbankan vs Kripto
Industri perbankan mendorong amandemen yang melarang exchange membayar bunga/yield ke pengguna yang memegang stablecoin — bahkan jika platform bukan penerbit token tersebut. Industri kripto keras menolak ini, dan ini salah satu yang bikin markup sempat ditunda.
6. Proses Legislatif Berlapis & Mepet Waktu
Draft Banking Committee harus lolos komite dulu, lalu digabung dengan draft Agriculture Committee, baru bisa masuk voting Senat penuh. Setelah itu, Senat dan House harus rekonsiliasi karena versinya berbeda. (Latham & Watkins) Galaxy Research menilai peluang CLARITY Act ditandatangani menjadi UU di 2026 sekitar 50-50 atau lebih rendah — karena "banyak sekali pertanyaan yang belum selesai yang harus diselesaikan secara berurutan di bawah tekanan waktu yang ketat."
7. Ancaman Midterm Elections November 2026
Jika CLARITY Act tidak bisa maju sebelum pemilu midterm November 2026, RUU ini bisa mati — Kongres berikutnya akan menentukan apakah mau melanjutkan versi yang ada atau mulai dari nol. Skenario ini menciptakan ketidakpastian besar.
#CLARITYAct #Senator