OCC Chief Says Democrats, Not Trump, Apply Political Pressure on World Liberty License

According to CoinDesk, OCC Chief Jonathan Gould said today during congressional testimony that Democrats—not Trump—are the only source of political pressure on his agency regarding World Liberty Financial's bank license. Democrats oppose the bank charter, citing World Liberty's ties to former President Trump's family, foreign investors, and cryptocurrency platforms including Binance with past compliance issues.

During the hearing, regulators also discussed the GENIUS Act's implementation. FDIC Chair Travis Hill said the agency will soon propose rules requiring stablecoin issuers to establish customer identification programs. National Credit Union Administration Chair Kyle Hauptman noted that stablecoins enable faster payments, while California Democratic Rep. Brad Sherman opposed government payments via stablecoins, arguing they could facilitate tax avoidance.