Overview
- In a Jan. 13 letter, Senator Elizabeth Warren pressed the OCC to suspend review of a WLTC Holdings LLC application linked to World Liberty Financial.
- She warned that moving forward while the president retains financial ties could compromise the regulator’s impartiality and erode public confidence in oversight.
- World Liberty Trust Co. is seeking a national trust bank charter that would place it under federal supervision and could enable issuance and custody of the USD1 stablecoin.
- Warren requested a written commitment by Jan. 20 to pause the review until President Trump fully divests, citing unresolved ethics gaps in pending crypto market-structure legislation and the recently passed GENIUS Act.
- The OCC has not commented on the letter, and reporting notes prior conditional approvals for other crypto-focused banks as well as descriptions of WLFI as co-founded by Trump with family financial involvement.