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Warren Calls for Trump Divestment Before Approving World Liberty Financial Bank Charter
Source: CryptoNewsNet Original Title: Senate’s Warren: WLFI-tied bank application should be halted until Trump divests Original Link: U.S. Senator Elizabeth Warren, one of the crypto industry’s most reliable critics in Congress, is calling for a halt to the efforts of World Liberty Trust Co. to become a U.S. trust bank until President Donald Trump divests his family’s ownership stake in the related digital assets business.
Warren sent a letter on Tuesday to Jonathan Gould, the chief of the Office of the Comptroller of the Currency, where a company connected to World Liberty Financial Inc. is seeking a charter that could allow it to directly issue the USD1 stablecoin. She asked Gould to delay the application process while Trump continues to have a stake that may pose a conflict of interests.
“We have never seen financial conflicts or corruption of this magnitude,” Warren wrote in the letter. “The United States Congress failed to address them when it passed the GENIUS Act into law — so it is incumbent for the Senate to address these real and serious conflicts of interest as it considers crypto market structure legislation.”