Odaily Planet News: U.S. Senator and senior Democratic member of the Senate Banking Committee, Elizabeth Warren, has called for a hold on the application for a national trust bank charter in the United States related to World Liberty Trust Co., until Donald Trump divests his family's stake in the associated digital asset business.
It was reported that Warren has written a letter to OCC Comptroller Jonathan Gould, requesting a delay in the application process while Trump still holds relevant interests. She pointed out that if the application is approved, the rules established by the regulator could directly affect the profitability of businesses related to the president, creating a serious conflict of interest.
Warren stated that Congress failed to address such issues when passing the GENIUS Act, and therefore the Senate has a responsibility to confront these conflicts when considering legislation on the structure of the cryptocurrency market. Currently, the Senate Banking Committee is about to hold hearings on the relevant bill, but the latest leaked draft has yet to include government ethics provisions previously requested by Democrats. (CoinDesk)