US Democratic lawmakers pressure Treasury to halt Trump's Bitcoin reserve plan

According to The Block, Gerald Connolly, a senior Democratic member of the U.S. House Government Oversight and Reform Committee, sent a letter to the Treasury Department requesting an end to the Trump administration's plan to establish a national Bitcoin reserve, accusing it of having a "clear conflict of interest. Connolly pointed out that Trump's push for the plan without congressional approval could benefit himself and his allies, while harming the interests of American taxpayers. Previously reported, Democratic Congressman Gerald Connolly of the United States House of Representatives called for an ethics investigation into Trump's encryption project.