Senate Scrutiny on Trump's Crypto Venture Raises Conflict Concerns

The U.S. bank regulator's head indicated receptiveness to a request from senior Congress members regarding the review of World Liberty Financial's bank charter application. The crypto venture, backed by Trump's family, seeks a national trust bank status, igniting political debate over potential conflicts of interest.

During a Senate Banking Committee hearing, Comptroller of the Currency Jonathan Gould responded to Senator Elizabeth Warren's inquiry on the application, stating a willingness to entertain her request for a confidential review. Warren, along with fellow Democrats, expressed apprehension about possible foreign ties and sought clarity and transparency in the process.

World Liberty Financial, led by Trump's sons and associates, is under scrutiny from Democrats citing its UAE investor link. The company maintains adherence to application protocols despite the political furor, and the White House denies any conflict related to the Trump family's involvement.