ME News reports that on June 5 (UTC+8), the U.S. House Committee on Financial Services held a hearing on bank regulators, focusing on stablecoin regulations and the bank charter application of World Liberty Financial, a crypto company linked to the U.S. President. Jonathan Gould, head of the Office of the Comptroller of the Currency, stated at the hearing that his agency felt political pressure solely from Democrats regarding the decision on whether to grant World Liberty Financial a bank charter, and denied allegations that it was following presidential directives. Additionally, Travis Hill, Chairman of the Federal Deposit Insurance Corporation, said a rule proposal requiring stablecoin issuers to implement customer identification procedures will be introduced soon. (Source: ODAILY)
OCC Chief Claims Political Pressure on World Liberty Bank’s License Comes Solely from Democrats
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Summary
On June 5, the U.S. House Financial Services Committee held a hearing on stablecoin regulation and the bank license application of World Liberty Financial, a crypto firm linked to the U.S. president. Jonathan Gould, Comptroller of the Currency, stated that political pressure on the license decision comes solely from Democrats, denying claims that he follows the president’s directives. Federal Deposit Insurance Corporation Chair Travis Hill proposed CFT measures, including customer identity verification for stablecoin issuers, as risk-on assets remain under close scrutiny.
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