Trump's SEC leadership attracts probes with Congressional watchdog

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The latest regulatory changes by the new SEC leadership under Trump have sparked concerns among government watchdog agencies.

Trump’s crypto empire and recent changes in regulations have attracted attention from several watchdog agents. On April 14, the Government’s Office of Accountability announced plans to investigate the U.S. Securities and Exchange Commission.

In a letter to Democrat Senators Elizabeth Warren and Mark Warner, GAO, the nonpartisan agency responsible for government oversight, confirmed that it would consider changes implemented by the SEC’s politically appointed leadership. These changes report plans to reduce staff and limit the agency’s ability to independently launch research.

In February, an attorney for the SEC told Reuters that the new politically appointed leadership asked for permission before beginning the investigation. At the time, the US government’s watchdog Accountable.us raised concerns about these changes, along with US crypto policy in general.

Since Trump’s appointed leadership came to power, the SEC has seen hundreds of resignations from staff. At the same time, the agency was offering a retirement package in favour of staff who voluntarily resigned.

Trump’s crypto venture raises concerns about corruption

Among the concerns are Trump’s various crypto ventures, often targeted by Congressional Democrats. For one, House of Representatives Maxine Waters accused Trump of using his power to become the “crypto king.”

Waters said Trump is using his power to enrich himself by promoting both his official Trump (Trump) and his world-free financial company. She claimed that Trump made $2 billion from his various crypto ventures at the expense of ordinary investors.