Senior Democratic Senator Werner of the US Senate on Tuesday urged banks and trading companies not to use a new product that allows early access to US President Trump's social networking platform “Truth Social,” warning that this will lead to a “very worrying information asymmetry” in government policy. Earlier this month, Trump Media and Technology Group launched a paid licensing data service called “Truth API” to provide banks and trading companies with the “fastest” Truth Social account posting, including Trump's own account. Trump's statements often cause global markets to fluctuate. Werner urged the heads of major US financial industry associations to publicly oppose such arrangements, believing that this would enable Trump to obtain personal financial benefits from government policy information. “I urge you to make it clear that the financial services industry will not approve arrangements to sell priority access to presidential communications that may affect the market, especially if such arrangements may personally benefit the president,” he wrote in a letter to the heads of the six major financial industry associations. Werner is also a member of the Senate Finance Committee.

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