A prominent Senate voice has raised alarms over the $WLFI project's pursuit of a US bank charter, flagging potential conflicts of interest in the regulatory review process. The core concern: the agencies evaluating the application operate under an administration that backs the initiative, creating questions about independent oversight. This regulatory friction underscores the ongoing tension between crypto projects seeking traditional banking infrastructure and lawmakers skeptical of such arrangements. The matter now sits before the Senate for further examination, reflecting broader debates about how digital asset platforms navigate the institutional guardrails designed to manage systemic risk.