Accountable.US Submits Statement for the Record to Democratic Shadow Hearing on the Pandora's Box for Presidential Corruption

Washington D.C. – This morning, Democratic members of the House Financial Services Committee objected to and walked out of a hearing on cryptocurrency legislation

A new report from Accountable.US highlights how President Trump is rolling out one massive crypto deal after another that could easily be used for anyone to buy influence with the administration - whether they're foreign adversaries, overseas corporations, or bad actors with an agenda that runs counter to the interest of the American public, threatening our national security.

The report, titled "A Pay-to-Play Presidency: How President Trump Is Inviting Foreign Influence and Corruption Through His Family's Crypto Ventures," documents several examples of Trump administration officials engaging in activity that could be seen as an attempt to sell U.S. government influence to the highest bidder.

For example, the report notes that Trump's son, Eric Trump, recently met with executives from several Chinese tech companies, including Baidu and WeChat. The meeting was arranged by a venture capital firm that invests in both U.S. and Chinese startups.

The report also highlights how Trump's administration has been rolling out one massive crypto deal after another, often with parties that have been implicated in financial crimes or legal violations. For instance, Trump's son-in-law, Jared Kushner, recently met with executives from Binance, a cryptocurrency exchange that was fined by U.S. authorities for allowing criminals to use its platform to launder money.

The report concludes by calling on Congress to investigate President Trump's crypto ventures and to take steps to prevent any president from using cryptocurrencies to engage in corruption or conflicts of interest.

"President Trump's actions are a clear and present danger to the American people," said Caroline Ciccone, president of Accountable.US. "He is abusing his power to enrich himself and his family, and he is selling out the interests of the U.S. to the highest bidder."

"Congress must act now to put a stop to President Trump's corruption and to protect the national and economic security of everyday Americans."

Earlier this year, Accountable.US sent a letter to the House Financial Services and Senate Banking Committee’s urging them to launch an investigation into President Trump’s sprawling crypto ventures and intervene to prevent any president from using cryptocurrencies to engage in corruption or conflicts of interest.

In response to reports that the Trump administration was planning to disband the National Cryptocurrency Enforcement Team, Accountable.US and several other organizations sent a letter to Treasury Secretary Steven Mnuchin and Attorney General William Barr urging them to reconsider this decision. The organizations argued that the task force was playing a critical role in coordinating efforts to combat cryptocurrency-related financial crime.

The administration ultimately decided to disband the task force.

Accountable.US is a nonpartisan government watchdog group that works to hold officials accountable and protect the public interest.