41 Democratic Members of Congress Demand Explanation from Treasury Secretary Regarding World Liberty's Bank Charter

On the 19th, 41 Democratic members of the U.S. House of Representatives sent a joint letter to Treasury Secretary Scott Bessent, seeking a response within a week about the actual status of the federal banking charter review applied for by World Liberty Financial (WLF), a cryptocurrency company associated with President Trump.

On January 7th this year, WTLC Holdings, a subsidiary of WLF, submitted a new charter application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank. If approved, the company would be able to centrally manage the issuance, custody, and cashing of its own dollar-linked stablecoin 'USD1' under federal regulation, enabling the rollout of services for institutional investors nationwide.