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- Warren is urging regulators to block or delay a bank charter for a Trump-connected crypto firm.
- Regulators say the review will follow standard procedures despite political pressure.
- The dispute reflects rising tensions over crypto regulation and conflicts of interest.
Senator Elizabeth Warren is escalating her criticism of World Liberty Financial, urging U.S. regulators to halt the company’s attempt to secure a national trust bank charter. The dispute highlights growing political friction over crypto oversight, conflicts of interest, and the role of regulators in reviewing firms tied to public officials.
Political Pressure Meets Regulatory Process
During a hearing of the Senate Banking Committee, Warren pressed Comptroller Jonathan Gould to pause or reject the firm’s application. She argued the company’s links to former president Donald Trump raise ethical and national-security concerns, particularly given unresolved questions around Trump’s financial interests.
Warren has repeatedly flagged what she views as potential corruption risks, including a reported $500 million investment tied to a UAE-linked entity. She has called for greater transparency and warned regulators against approving the charter without deeper scrutiny.
The senator previously sent a formal letter to the Office of the Comptroller of the Currency demanding an immediate halt to the review. Her argument centers on whether a firm with political ties to a sitting or former president should face enhanced examination before gaining banking privileges.
Regulator Rejects Claims of Bias
Gould pushed back strongly during the hearing, stating his office would evaluate the application using its normal procedures. He insisted decisions are based on regulatory standards, not political debate, and said the only pressure he had experienced came from lawmakers demanding intervention.
His remarks underscored the delicate balance regulators face as cryptocurrency firms increasingly seek access to traditional banking frameworks. Approval of a national trust bank charter would allow the company to expand services and deepen its presence in the U.S. financial system.
Broader Crypto Policy Divide Emerges
The clash reflects a wider split in Washington over crypto regulation. Critics worry political influence and opaque funding could undermine oversight, while supporters argue innovation should not be slowed by partisan disputes.
The controversy also comes as World Liberty Financial reportedly prepares to launch a foreign-exchange platform tied to its USD-based stablecoin ecosystem, signaling ambitions to broaden its financial footprint.
For now, the bank charter review continues, but the public confrontation shows how closely crypto policy is now tied to politics. Whether regulators ultimately approve the application could shape not only the company’s future, but also how aggressively U.S. authorities scrutinize politically connected crypto firms.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
