March 28 (Reuters) – Five Democratic senators, led by Elizabeth Warren, sought answers regarding World Liberty Financial, a crypto project backed by President Donald Trump and family, and its newly announced plans to issue a stablecoin, the Wall Street Journal reported on Friday citing a letter.

The lawmakers warned U.S. financial regulators of a potential “extraordinary conflict of interest” in overseeing the cryptocurrency entity, the Wall Street Journal said.

The letter was sent early Friday, addressed to the Federal Reserve’s vice chair of bank supervision Michelle Bowman and acting comptroller of the currency Rodney Hood, according to the Journal.

The senators questioned how regulators would manage oversight given the company’s ties…