Senator Elizabeth Warren of the United States has called on the Office of the Comptroller of the Currency (OCC) to stop reviewing the national trust bank license application of World Liberty Financial. World Liberty Financial is a cryptocurrency platform co-founded by former President Donald Trump and his family. Warren warned that the current regulatory framework, including the recently enacted GENIUS Act, has failed to prevent the president from exerting influence over agencies responsible for regulating related enterprises, leading to an "unprecedented conflict of interest." If approved, this license would allow the company's subsidiary to issue and custody its $1 face value stablecoin.
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Senator Elizabeth Warren of the United States has called on the Office of the Comptroller of the Currency (OCC) to stop reviewing the national trust bank license application of World Liberty Financial. World Liberty Financial is a cryptocurrency platform co-founded by former President Donald Trump and his family. Warren warned that the current regulatory framework, including the recently enacted GENIUS Act, has failed to prevent the president from exerting influence over agencies responsible for regulating related enterprises, leading to an "unprecedented conflict of interest." If approved, this license would allow the company's subsidiary to issue and custody its $1 face value stablecoin.