PANews reported on March 14, according to The Block, that senior Democratic member of the U.S. House Committee on Oversight and Reform, Gerald Connolly, wrote a letter to the Treasury Department asking it to stop plans established by the Trump administration for a national Bitcoin reserve, accusing it of having an "obvious conflict of interest". Connolly pointed out that Trump pushed this plan without congressional approval which could benefit him and his allies personally while harming American taxpayers' interests.
Previously reported was that U.S. Democratic Representative Gerald Connolly called for an ethical investigation into Trump's cryptocurrency project.