US senators have called for a halt to trust bank applications related to WLFI, arguing that Trump's failure to divest his interests constitutes a conf...

According to Mars Finance, Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, has called for a halt to the application for a U.S. national trust banking license related to World Liberty Trust Co. until Donald Trump divests his family's stake in the related digital asset business. Warren reportedly wrote to Jonathan Gould, the Director of the Office of the Comptroller of the Currency, requesting a delay in the application process while Trump still holds a stake. She pointed out that if the application is approved, the rules set by regulators could directly impact the profitability of presidential-related businesses, posing 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 address these conflicts when considering legislation on the crypto market structure. The Senate Banking Committee is about to hold hearings on the relevant bill, but the latest leaked draft does not yet include the government ethics clauses previously demanded by Democrats.