Business · 13 July 2026
US eases UAE export rules after Trump-linked crypto deal
Daniel Torok (Wikimedia, Creative Commons CC0 License) | Ahmed Aldaie (Unsplash)
The US Commerce Department is simplifying the process for exporting advanced technology to the UAE, including for MGX, an investment firm which previously utilised a stablecoin with connections to Donald Trump's family. Senator Elizabeth Warren called the new rule "corrupt" because of MGX's use of the Trump-affiliated World Liberty Financial's USD1 stablecoin for a $2 billion investment in Binance. Warren claims Trump made $263 million from this deal and wants Commerce officials to explain how it could risk national security.
Reported by CNBC · How we write briefs