January 13, 2026
Present draft of the crypto market construction invoice set for upcoming Committee vote fails to deal with Trump’s unprecedented conflicts of curiosity
Warren warns approving WLFI’s utility whereas market construction laws unresolved would additional erode belief in the monetary system and place the OCC in an unprecedented battle of curiosity.
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Rating Member of the Senate Banking, Housing, and City Affairs Committee, despatched a letter to Comptroller of the Foreign money Jonathan Gould urgent the company to delay its evaluation of a financial institution constitution utility submitted by World Liberty Financial (WLF), a cryptocurrency firm cofounded by President Trump.
Final July, Rating Member Warren warned Comptroller Gould about this precise state of affairs and requested how the company would forestall President Trump’s monetary pursuits from influencing regulatory choices. Gould declined to reply, calling the considerations “hypothetical.”
“These questions are now not hypothetical. Your dismissive response, and your willingness to rubber stamp the President’s harmful agenda throughout your tenure as Comptroller, give me no confidence that you’ll pretty assess the utility pursuant to the authorized customary for approval. Now we have by no means seen monetary conflicts or corruption of this magnitude,” wrote Rating Member Warren.”
The Rating Member additional defined the penalties: “If the utility is permitted, you’d promulgate guidelines that affect the profitability of the President’s firm. You’ll even be liable for immediately supervising and imposing the regulation towards the President’s firm—and its rivals. You’ll be in cost of these features whereas serving at the pleasure of the President. In impact, for the first time in historical past, the President of the United States can be in cost of overseeing his personal monetary firm.”
“As Comptroller of the Foreign money, you’re liable for guaranteeing companies and households have truthful entry to monetary providers and that our banking system stays steady. You could make choices that profit the American public—not President Trump’s pocketbook. The integrity of our federal banking system will depend on it,” the Rating Member wrote.
In the letter, Rating Member Warren famous that Congress failed to deal with these conflicts when it handed the GENIUS Act and ought to deal with it in crypto market construction laws this week. She known as on the OCC to delay evaluation of WLF’s utility till President Trump divests from the firm and eliminates all monetary conflicts of curiosity involving himself or his household in written dedication from the Comptroller by January 20, 2026.
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