{"id":30788,"date":"2026-06-04T19:00:30","date_gmt":"2026-06-04T19:00:30","guid":{"rendered":"https:\/\/bitunikey.com\/news\/world-liberty-hearing-turns-tense-as-occ-chief-rejects-pressure-claim\/"},"modified":"2026-06-04T19:00:39","modified_gmt":"2026-06-04T19:00:39","slug":"world-liberty-hearing-turns-tense-as-occ-chief-rejects-pressure-claim","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/world-liberty-hearing-turns-tense-as-occ-chief-rejects-pressure-claim\/","title":{"rendered":"World Liberty hearing turns tense as OCC chief rejects pressure claim"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Trump-Linked Crypto Firm Has Drawn Fresh Scrutiny as U.S. Regulators Defend Stablecoin Oversight<\/p>\n<div id=\"cn-block-summary-block_fd0122cf3da4f1e31c67478f02b67fa8\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>World Liberty\u2019s bank charter bid faced fresh scrutiny during a House Financial Services Committee hearing.<\/li>\n<li>Jonathan Gould said the OCC will review World Liberty\u2019s application under existing charter laws.<\/li>\n<li>Democratic lawmakers questioned World Liberty\u2019s Trump family ties, foreign investors, and crypto partners.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The Trump-linked crypto firm World Liberty Financial Inc. has drawn fresh scrutiny in Congress as U.S. bank regulators defended their handling of stablecoin rules and charter applications.<\/p>\n<p>The <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/financialservices.house.gov\/calendar\/eventsingle.aspx?EventID=411130\" target=\"_blank\" rel=\"nofollow\">House Financial Services Committee<\/a> heard sharp exchanges on Thursday as Comptroller of the Currency Jonathan Gould faced questions over World Liberty Trust Company\u2019s application for a national trust-bank charter.<\/p>\n<p>Representative Gregory Meeks, a New York Democrat, asked Gould whether he was \u201cworking for the American people\u201d or acting as a \u201cTrump fixer.\u201d Gould rejected the accusation and said Democratic lawmakers had applied the only political pressure he had felt.<\/p>\n<p>Gould told the committee that the Office of the Comptroller of the Currency would review the application under the law governing bank charters. He also said the agency was following ethics rules as it considers World Liberty\u2019s request.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Democrats press OCC over World Liberty charter<\/h2>\n<p>Democratic lawmakers have argued that World Liberty\u2019s ties to President Donald Trump and his family raise conflict concerns. They have also cited the firm\u2019s foreign investors and crypto partners, including Binance, while questioning whether the company should receive a U.S. banking charter.<\/p>\n<p>Senator Elizabeth Warren and other <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.banking.senate.gov\/newsroom\/minority\/at-hearing-occ-comptroller-gould-says-he-will-consider-warren-request-to-review-world-liberty-financial-bank-application\" target=\"_blank\" rel=\"nofollow\">Democrats <\/a>have previously pressed regulators over the same issue, according to Gould\u2019s comments at the hearing. Gould called the pressure \u201cunfortunate and unprecedented\u201d while defending the OCC\u2019s process.<\/p>\n<p>World Liberty is also a stablecoin issuer, which placed the company inside a larger debate over how U.S. agencies should enforce the GENIUS Act.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Regulators move ahead With stablecoin rules<\/h2>\n<p>Federal Deposit Insurance Corp. Chairman Travis Hill told lawmakers that regulators had already proposed several rules tied to the GENIUS Act. Hill said the FDIC and other agencies would soon propose a rule requiring customer identification programs for stablecoin issuers.<\/p>\n<p>The hearing focused heavily on how banks, credit unions, and stablecoin companies will operate under the new law. Regulators described the rulemaking process as ongoing, with several requirements still being drafted.<\/p>\n<p>Kyle Hauptman, chairman of the National Credit Union Administration, told lawmakers that stablecoins could make payments faster in the United States. Hauptman said Americans may one day receive tax refunds or emergency government funds on weekends and holidays through stablecoin payment systems.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Representative Brad Sherman, a California Democrat and longtime crypto critic, rejected the idea of using stablecoins for government payments. Sherman told the committee he could not think of a worse idea, arguing that it would legitimize an alternative to the U.S. dollar.<\/p>\n<p>Sherman also said the GENIUS Act bars stablecoin issuers from paying interest. He warned that lawyers may look for ways around that restriction and urged regulators to write rules strong enough to prevent evasion.<\/p>\n<h2 class=\"wp-block-heading\">Fed faces questions over Kraken access<\/h2>\n<p>Federal Reserve Vice Chair for Supervision Michelle Bowman also faced questions about the Fed master account granted to crypto exchange Kraken.<\/p>\n<p>Bowman said Kraken received only limited access to the payments system for an initial 12-month period. She told lawmakers the Fed would monitor the arrangement closely while it prepares formal rules for similar access requests.<\/p>\n<p>Crypto firms are watching the Fed\u2019s policy work because so-called skinny master accounts could give approved companies limited access to central bank payment services.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trump-Linked Crypto Firm Has Drawn Fresh Scrutiny as U.S. Regulators Defend Stablecoin Oversight Summary World Liberty\u2019s bank charter bid faced fresh scrutiny during a House Financial Services Committee hearing. Jonathan&hellip;<\/p>\n","protected":false},"author":1,"featured_media":30789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/30788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=30788"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/30788\/revisions"}],"predecessor-version":[{"id":30790,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/30788\/revisions\/30790"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/30789"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=30788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=30788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=30788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}