OCC Chief Says Only Political Pressure on World Liberty Bank’s License Comes from Democrats

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CFT concerns resurfaced during a U.S. House hearing on stablecoin oversight and World Liberty Financial’s bank charter. OCC head Jonathan Gould stated that political pressure on the charter originated solely from Democrats, denying any influence from the White House. FDIC Chair Travis Hill announced a new proposal requiring stablecoin issuers to comply with customer identification rules. Risk-on assets regained attention as the session centered on regulatory clarity for crypto-linked entities.

Odaily Planet Daily report: Today, the U.S. House Committee on Financial Services held a hearing on banking regulators, focusing on stablecoin regulations and the bank charter application of World Liberty Financial, a crypto company associated with the U.S. President.

Jonathan Gould, Comptroller of the Currency, stated at a hearing that the only political pressure his agency felt regarding the decision on whether to grant World Liberty Financial a banking charter came from the Democratic Party, and he denied allegations that the agency was following presidential directives. Additionally, FDIC Chair Travis Hill said that a rule proposal requiring stablecoin issuers to implement customer identification procedures will be introduced soon. (Coindesk)

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