Overview
- Senator Elizabeth Warren asked Comptroller Jonathan Gould to halt review of WLTC Holdings’ national trust bank application until President Trump divests from World Liberty Financial.
- She argued that approving the charter would create a conflict of interest by having a presidential appointee regulate a company tied to the president’s finances.
- The charter would enable WLFI’s affiliate to issue and custody the USD1 stablecoin under federal banking oversight.
- The OCC has not publicly responded to the letter, and the application remains under review as new GENIUS Act stablecoin rules take effect on Jan. 18.
- Senate Banking Committee work on a crypto market‑structure bill is ongoing, with current drafts lacking explicit provisions addressing presidential conflicts.