WLF’s USD1 Stablecoin Approved Abroad, Under Fire in U.S.

3 mins mins

Key Insights:

Warren presses OCC to pause WLF’s bank review due to Trump’s ongoing financial ties.
Pakistan greenlights USD1 stablecoin integration for faster, regulated global transactions.
Crypto bill up for vote fails to address Trump’s potential conflict as WLF expands abroad.

*WLF’s USD1 Stablecoin Approved Abroad, Under Fire in U.S.*

Senator Elizabeth Warren has asked the Office of the Comptroller of the Currency (OCC) to delay its review of a bank charter application by World Liberty Financial (WLF), a company co-founded by President Trump.

In a letter sent to Comptroller Jonathan Gould, Warren warned that approving the application while President Trump maintains ownership in WLF could present a conflict of interest. She wrote, “We have never seen financial conflicts or corruption of this magnitude,” and urged the OCC to hold off on any approval until Trump fully divests from the company.

Concerns Over President’s Financial Ties

The letter explained that if WLF becomes a chartered bank, the President would have influence over the agency responsible for supervising his own company. Warren said this would be the first time a sitting President oversees a company he benefits from financially.

“You would be in charge of these functions while serving at the pleasure of the President,” Warren said. She questioned whether the OCC could fairly enforce rules if it reports to someone directly tied to the company it’s regulating.

Pending Crypto Bill Lacks Conflict Safeguards

Warren also pointed to a draft crypto market structure bill set for a vote this week. She said the bill does not address the President’s financial interests in WLF.

She noted that an earlier law, the GENIUS Act, failed to include protections against such conflicts. In her letter, she asked the OCC to provide a written response by January 20, 2026, confirming that no action will be taken on the WLF application without full divestment.

Pakistan Expands Digital Payments with USD1

Meanwhile, Pakistan has agreed to work with WLF to integrate the USD1 stablecoin into its digital payment system. The move will support cross-border transactions and allow USD1 to operate alongside the country’s central bank-backed digital currency.

The plan is part of Pakistan’s broader push to upgrade its financial system and adopt faster, tech-driven payment options.

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