Elizabeth Warren calls for a pause in reviewing the WLF bank license application founded by the Trump family

Wu Shuo learned that Elizabeth Warren, a senior member of the U.S. Senate Banking Committee, wrote to Office of the Comptroller of the Currency (OCC) Director Jonathan Gould, requesting a suspension of the review of World Liberty Financial (WLF)'s banking license application. Warren pointed out that WLF was co-founded by Trump and his two sons, and on January 7, they applied to OCC to establish a “national trust bank dedicated to serving stablecoins.” The Trump family has profited over $1 billion from cryptocurrency businesses. She warned that if Trump does not divest his holdings in WLF and eliminate family-related conflicts of interest before continuing the review, it would pose an unprecedented risk of presidential financial conflicts of interest, equivalent to the president “regulating his own financial company.” Warren demanded that OCC provide a written commitment to delay the review no later than January 20.