CandleFocus How Might Donald Trump's Crypto Token Fit Into Regulations?
2024-09-07
Author: Content Editor
Former President Donald Trump is set to become the "chief crypto advocate" for World Liberty Financial (WLFI), a crypto venture backed by his three sons. While details about WLFI's exact offerings are limited, a draft white paper suggests that 30% of the tokens generated will be sold to investors, while the remaining 70% will be held by founders, service providers, and team members. The project raises questions about how Trump, who has campaigned to crypto voters and promised industry-friendly regulation, will navigate securities and anti-money laundering laws. The final project may differ from what has been reported, and it remains unclear who controls the wallets and how the 70% allocation will be distributed among developers and project leaders. WLFI will also be a target for potential attackers.
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