Overview
- House Financial Services Committee members pressed OCC Comptroller Jonathan Gould on Thursday over World Liberty Trust Company’s application for a national trust‑bank charter, with Democrats citing the firm’s ties to President Trump, foreign investors, and past associations with Binance.
- Gould rejected charges that he was acting as a political fixer and told lawmakers the OCC will judge the World Liberty application under existing ethics statutes and charter law.
- FDIC Chairman Travis Hill said agencies have issued multiple proposed GENIUS Act rules and that the FDIC will soon propose a customer‑identification‑program rule for stablecoin issuers to strengthen anti‑money‑laundering checks.
- Federal Reserve officials confirmed the Fed granted Kraken a narrowly limited master account for an initial 12‑month pilot that the Fed will closely monitor while it develops formal standards for such access.
- Lawmakers offered sharply different views on stablecoins’ role in public finance, with NCUA Chairman Kyle Hauptman arguing tokens could speed payments and Rep. Brad Sherman warning government use would enable tax evasion, a debate that will shape the coming rulemaking.