How Might Donald Trump's Crypto Token Fit Into Regulations?
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The former president of the United States is launching a crypto yield product, even as he appeals to the crypto industry in his current bid for office. Donald Trump will be the "chief crypto advocate" for World Liberty Financial, a venture that has offered scant hints so far about what it will actually do.
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WLFI
The narrative
Crypto is trying to make an impact this election cycle. Now, one of the leading contenders for President of the U.S. is tied to a forthcoming crypto venture.
Why it matters
There's one pretty interesting question: how should the former president and current Republican nominee think about securities and anti-money laundering laws as he prepares to lend his name to a crypto project?
Breaking it down
Former President Donald Trump will be the "chief crypto advocate" for World Liberty Financial, a project seemingly based on Dough Finance and featuring his three sons and a host of other individuals in key roles, according to scoops by my colleagues Danny Nelson, Cheyenne Ligon and Sam Kessler this week.
A draft white paper seen by CoinDesk suggests that World Liberty Financial will sell 30% of the WLFI tokens generated, with the remaining 70% held by founders, service providers and $BTC $ETH $BNB
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