A U.S. banking regulator has refused to disclose details about the application for a national bank charter by World Liberty Financial (WLF), a cryptocurrency company linked to the Trump family. WLF previously received a $500 million investment from a member of the Abu Dhabi royal family. Comptroller of the Currency (OCC) Jonathan Gald stated that the application is being processed like any other and denied any political pressure from the Trump administration, when Democratic senators pressed him on potential conflicts of interest and national security concerns related to UAE investments. WLF plans to use its license to issue a $1 stablecoin and described these inquiries as "baseless lies."
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A U.S. banking regulator has refused to disclose details about the application for a national bank charter by World Liberty Financial (WLF), a cryptocurrency company linked to the Trump family. WLF previously received a $500 million investment from a member of the Abu Dhabi royal family. Comptroller of the Currency (OCC) Jonathan Gald stated that the application is being processed like any other and denied any political pressure from the Trump administration, when Democratic senators pressed him on potential conflicts of interest and national security concerns related to UAE investments. WLF plans to use its license to issue a $1 stablecoin and described these inquiries as "baseless lies."