Gerald Connolly, a Democratic member of the US House of Representatives, has asked the Treasury Department to immediately halt its efforts to create a strategic reserve of digital currency. Connolly sees this move as a clear conflict of interest and believes that the plan is designed to enrich Trump and his financial supporters. The congressman’s request was formally raised in a letter to the Secretary of the Treasury. Trump’s executive order includes the creation of a federal Bitcoin reserve with around 200,000 bitcoins and the establishment of an entity to manage seized digital assets. Connolly warned that Trump’s personal interests in companies related to digital currencies, including TRUMP coin, could lead to his personal gain. He also expressed concerns about the lack of congressional approval for this plan.
