If you’ve heard of Jared Kushner, you probably haven’t heard of him campaigning for a federal cryptocurrency, the United States digital currency (USDC). His campaign was a way to promote the idea of a government-run digital currency, which would help cut down on fraud and waste. It’s also an attempt to make crypto a legal tender for payments.
The Trump administration has reportedly met with executives from cryptocurrency firms such as Coinbase, Xapo Bank, and Square. This is part of a broader effort to get cryptocurrency data regulation passed. In addition, the IRS has been actively monitoring the cryptocurrency space. However, the Federal Bureau of Investigation recently raided the home of President Donald Trump’s son-in-law, Jared Kushner, and confiscated roughly 100 classified documents, which are normally kept under seal.
Kushner has since denied being an informant. But an email he sent to Treasury Secretary Steven Mnuchin last year reveals that he was campaigning for a digital currency. He wrote in the message, “I’m looking to do a brainstorming on a digital currency. Could you please get a group of people to discuss this?”
According to the e-mail, Kushner hoped to get Mnuchin’s thoughts on a possible government-issued digital currency. He said, “We could use a government-issued digital currency to cut down on waste and fraud. And it could also be used as a second legal tender.
When Kushner wrote the email, he did not know if the meeting with Mnuchin was going to take place. He did not receive a reply to the letter.
According to the emails, the treasury held a series of meetings with the leaders of various cryptocurrency companies. The Treasury’s Monetary Crimes Enforcement Community is also active in trying to get legislation passed to regulate the digital wallet industry.
Some of the meetings were between the treasury and a number of individuals connected with the crypto sector, including CEOs of companies such as Coinbase, Xapo, and Square. One of the companies, Xapo, reportedly is owned by Vladimir Putin, who has close ties to Jared Kushner.
Another person linked to the e-mail is Sam Altman, a former head of the Silicon Valley startup incubator Y Combinator. Altman argues that a hypothetical US digital currency would be a viable alternative to the dollar and serve as a secondary legal tender.
A third individual mentioned in the e-mail is Jared Kushner, who was the president’s senior adviser. While he doesn’t seem to be a major political player, he has changed considerably in the past year. He’s left many of his previous affiliations, including politics, for his role in the Trump administration.
Kushner and Ivanka, who have both served in top roles in the Trump administration, remain loyal to the president. They both played an influential role in the president’s run for office. Although both men have been subject to adversity, both have come back stronger. Both have managed to retain relationships with former colleagues and friends, even as they have moved from their previous social circles.