TLDR Tech / Fintech
Trump family-backed crypto firm World Liberty gets conditional bank charter approval
The OCC's decision could allow the company to issue stablecoins and bring services currently handled by BitGo in-house, though it must first meet additional requirements such as raising capital. The decision has intensified conflict-of-interest concerns because an entity affiliated with Donald Trump and his relatives owns 38% of the business, prompting Democratic lawmakers to propose restrictions on senior officials owning or controlling banks.
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