Trump-Backed World Liberty Financial Wins Bank Charter, Clouds Clarity Act Prospects
World Liberty Financial (WLFI), backed by the Trump family, has received preliminary approval for a national bank trust charter from the Office of the Comptroller of the Currency. This approval allows WLFI to manage its USD1 stablecoin under federal regulation.
This development may complicate the US Senate's efforts to pass the Clarity Act, a key crypto market-structure bill that had cleared the Senate Banking Committee but faces uncertainty as the Senate adjourned without a final vote. Market odds for the Act's passage in 2026 have dropped to 23.5%, reflecting increased doubts about its enactment this year.
The approval of WLFI's bank charter is significant because it will allow the company to manage its USD1 stablecoin under federal regulation, potentially undermining efforts to pass the Clarity Act.