- Warren urges regulators to block Trump-linked crypto bank, citing undisclosed foreign ownership and conflict concerns.
- Lawmakers demand full disclosure of 10%+ WLF stakeholders as OCC reviews national trust bank charter.
- Crypto oversight tensions rise as Warren warns regulators against approving Trump’s bank application.
Sen. Elizabeth Warren escalated scrutiny over President Donald Trump’s crypto venture on Thursday. She urged federal regulators in Washington to block World Liberty Financial’s bank charter. Warren argued that the Trump family-led firm threatens regulatory integrity and public trust.
During a Senate Banking Committee hearing, she pressed Comptroller of the Currency Jonathan Gould for transparency. Moreover, she warned that approval could entangle regulators in what she called historic corruption.
Warren framed the dispute around World Liberty Financial’s application for a national trust bank charter. The company filed the request with the Office of the Comptroller of the Currency in January.
That charter would allow digital asset custody and stablecoin conversion services. However, it would not permit traditional deposit-taking activities. Consequently, the debate centers on disclosure standards and potential conflicts of interest.
Charter Fight Intensifies
Warren did not hold back. She declared, “President Trump’s crypto company is the most disgraceful presidential corruption scandal in HISTORY.” Additionally, she insisted that regulators disclose ownership details before any approval. “Anyone who owns 10% or more of World Liberty Financial must be disclosed or the bank application will be rejected.”
She reminded Gould that OCC rules require applicants to report shareholders with at least a 10% stake. Besides, those shareholders must file detailed biographical and financial reports.
Warren pointed to a reported 49% stake acquired by a United Arab Emirates entity before Trump’s inauguration. She asked whether the application disclosed that foreign ownership. Gould declined to discuss specifics but pledged to follow established procedures.
Disclosure and Oversight Pressure
Warren pushed further. She requested the unredacted charter application for review by her and Committee Chair Sen. Tim Scott. Gould responded cautiously. “The only thing to which I will commit is following our established procedures,” he said. Moreover, he referenced the OCC’s 131-page licensing manual.
Warren countered sharply. “I don’t know that anyone’s ever had to ask that before because I don’t think any president has ever had a pending bank application before,” she said. Consequently, the clash underscores mounting political tension over crypto regulation.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Daily Report (April 16): Tether may have purchased 951 BTC; Virginia enacts crypto property law
Bitcoin continues to rise, reaching $74,630. Tether uses its profits to buy 951 bitcoins. Virginia passes an unclaimed property law, requiring idle cryptocurrency to be transferred to the state government. U.S. stocks are driven by tech stocks, and the S&P 500 index hits a new high. Crypto market dynamics show that investors are paying attention to geopolitical conditions and U.S. monetary policy.
MarketWhisper42m ago
Kalshi Launches Parental Portal and AI Verification to Combat Underage Misuse of Prediction Market
Kalshi is introducing a parental portal for identity verification and selfie authentication to prevent minors from bypassing age restrictions. This follows scrutiny over its compliance with prediction market regulations amid ongoing lawsuits.
GateNews1h ago
Pakistan Lifts an Eight-Year Ban: Central Bank Allows Banks to Serve Crypto Businesses, and the Virtual Assets Law Takes Effect
On April 14, 2026, the State Bank of Pakistan lifted its crypto-assets banking ban that has been in place since 2018, officially kicking off the Virtual Assets Act 2026. Banks may open accounts for licensed virtual asset service providers, but must establish a segregation-of-funds mechanism to ensure that customers’ funds are not affected. This policy change responds to domestic demand and demonstrates Pakistan’s growing role on the international stage.
ChainNewsAbmedia10h ago
The central bank issues a digital currency report—does it directly refute Qu Bo? If Taiwan issues a CBDC, merchants generally cannot refuse to accept it
The central bank released a report stating that Taiwan’s CBDC development will follow a phased promotion strategy. In the short term, it is not urgent to issue retail CBDC; the focus is on wholesale CBDC and the infrastructure for asset tokenization. The central bank emphasized that CBDC will not increase the money supply and will have legal standing. As a rule, merchants may not refuse to accept it, in order to prevent the payment market from becoming overly dependent on the private sector.
ChainNewsAbmedia12h ago
White House Report Challenges Stablecoin Yield Ban, CLARITY Act Advances in Senate
A White House report argues against banning stablecoin yields, highlighting minimal benefits for bank lending and reduced consumer earnings. Key officials support the CLARITY Act, but the Senate Banking Committee's timeline remains uncertain, affecting the bill's chances before summer recess.
GateNews13h ago
Criticized for freezing too slowly: USDC freezes are taking too long! Circle CEO: We will definitely wait for a court order before freezing; we refuse to freeze it on our own
Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or law-enforcement requirement. Even amid allegations of hacker money laundering and community backlash, Circle continues to insist on operating under the rule of law.
Jeremy Allaire sets Circle’s law-enforcement bottom line
-----------------------------
As the global cryptocurrency market surges with uncertainty, Circle’s CEO Jeremy Allaire, at a press conference in Seoul, South Korea, made a clear stance on the market’s most sensitive issue of “asset freezes.” He noted that while Circle has technical means to freeze specific wallet addresses, unless it receives a court order or an official directive from law-enforcement agencies, the company will not
CryptoCity14h ago
