TL;DR
- World Liberty Financial, backed by the Trump family, initiates the KYC verification process on its official website.
- The WLFI governance token will be accessible only to accredited investors, with 63% of the tokens sold to the public.
- Donald Trump and his sons promote the project. WIth the ambition of positioning the U.S. as the “crypto capital of the world.”
World Liberty Financial, the new decentralized finance project backed by the Trump family, has begun its KYC (Know Your Customer) verification process on its official website.
This measure is implemented as part of regulations to prevent illegal activities, such as money laundering and fraud, and is essential to comply with anti-money laundering regulations. Interested users must submit personal identification documents and proof of residency, meeting the established legal requirements.
The project was officially announced on September 16. When it was confirmed that World Liberty Financial plans to offer a non-transferable governance token called WLFI. This token will be accessible only to accredited investors, meaning its acquisition will be limited to those who meet certain financial criteria. The distribution of the tokens is structured so that 63% will be sold to the public, 17% will be allocated for user rewards, and 20% will be reserved for compensation of the team behind the project.
The Trump Family Fully Enters the Crypto Industry
Eric Trump and Donald Trump Jr. have been promoting the project since early August. This aligns with their father Donald Trump’s stance, who has expressed his interest and support for cryptocurrencies. At a live event streamed on X Spaces. The presidential candidate spoke about his ambition to position the United States as the “crypto capital of the world.”
The opening of the KYC verification ensures that the information and assets associated with the project are managed safely and legally. The platform seeks to attract a solid and reliable user base, aligning with current regulatory expectations. However, it has been reported that the website was temporarily down for maintenance on Monday morning. Which may have caused inconveniences for users interested in completing the verification process.
The entry of World Liberty Financial into the DeFi economy is a clear example of the intersection of politics and the crypto industry. As the project advances. It will be crucial to observe how it impacts the market and how the community responds to the offering.
