Elizabeth Warren: 'Halt World Liberty’s bank charter until Trump resolves conflicts of interest'

US Senator Elizabeth Warren urged financial regulators to delay review of World Liberty Financial’s bank charter application, citing conflicts of interest involving President Donald Trump.

According to a Cointelegraph report on the 13th (local time), Warren sent a letter to Office of the Comptroller of the Currency (OCC) head Jonathan Gould, saying the agency should not consider World Liberty’s charter application until President Trump has fully divested his and his family’s financial interests.

Warren said, “There is no precedent for financial conflicts of interest or corruption on this scale,” adding, “Congress failed to adequately address this while passing the GENIUS Act, and now the Senate must resolve this major conflict of interest as it considers crypto market structure legislation.”

World Liberty subsidiary WLTC Holdings applied earlier this month to the OCC for a national trust bank charter. If approved, World Liberty would be able to issue, custody and exchange its stablecoin USD1.

World Liberty lists President Trump and his sons Barron, Eric and Donald Trump Jr. as co-founders. Warren said the platform has delivered massive book wealth to the Trump family.

Warren also raised sharp questions about Gould’s impartiality. “I do not trust that you will evaluate this application fairly under legal standards,” she said, alleging that Gould sidestepped questions during his confirmation hearing about how he would insulate the process from President Trump’s influence.

Under the GENIUS Act, the OCC is designated as the primary regulator of stablecoin issuers and holds both charter-approval and supervisory authority. Warren said Gould would be overseeing rules that directly affect World Liberty’s revenue while simultaneously serving under the president’s direction.

She said, “For the first time, the United States could face a situation in which a president is effectively overseeing his own financial company.”

Warren, the top Democrat on the Senate Banking Committee, is set to discuss crypto market structure legislation this week. Review in the Senate Agriculture Committee, which had been expected on the same timeline, was postponed by Republicans in pursuit of a bipartisan agreement.

A draft bill released by the Banking Committee does not include the ethics and conflict-of-interest provisions sought by Democrats, and further negotiations and revisions are seen as possible.