U.S. Senator Warren calls for a halt to the WLFI bank license application process until the Trump family divests related holdings

2026-01-14 01:47:29

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BlockBeats News, January 14 – U.S. Senator Elizabeth Warren has called for a suspension of the application process for World Liberty Trust Co.'s U.S. trust bank license until President Trump divests his family’s holdings in related digital asset businesses.

Warren sent a letter on Tuesday to Acting Comptroller of the Currency Jonathan Gould. The affiliated company of World Liberty Financial Inc. is applying for a charter license with the agency, which, if approved, would allow it to directly issue a USD1 stablecoin. In her letter, she requested Gould to delay the approval process while Trump still holds equity that could create conflicts of interest. “We have never seen such a scale of financial conflicts of interest or corruption,” Warren wrote in the letter. “Congress failed to address these issues when passing the GENIUS Act, so the Senate must take responsibility for addressing these real and serious conflicts of interest as it considers legislation to structure the crypto market.”

Warren is the lead Democrat on the Senate Banking Committee, which is scheduled to hold a hearing on Thursday. The draft bill released late Monday night does not yet include the ethics provisions demanded by Democratic senators during lengthy negotiations. As the committee prepares to review amendments and potentially vote to send the bill to the full Senate, how this issue will be resolved remains unclear.

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