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Senior U.S. Senate Banking Committee member Elizabeth Warren recently wrote a letter to Office of the Comptroller of the Currency (OCC) Director Jonathan Gould, with a core request: do not approve the bank license application for World Liberty Financial (WLF) yet.
Warren explicitly pointed out in the letter that the background behind the WLF project is somewhat special — it was co-founded by Trump and two of his sons. The project had already submitted its bank license application materials to the OCC on January 7.
This is quite interesting. On one side, crypto financial projects want to obtain formal status, while on the other side, members of Congress are concerned about their background. This reflects the cautious attitude of U.S. regulators towards the financialization of cryptocurrencies.