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Trump-Linked Crypto Venture Granted Bank Status Amid Conflict-of-Interest Concerns

Guavy AI Editorial Team
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A Trump-linked crypto venture, World Liberty Trust Co., has been granted bank status in an unprecedented move for a president's family.

The Office of the Comptroller of the Currency (OCC) conditionally approved the company to issue stablecoin cryptocurrency tied to the US dollar. This decision marks the first time a company owned by the sitting president's family has received bank status, sparking concerns over potential conflicts of interest.

World Liberty Financial, which is 38% owned by an entity affiliated with Donald J. Trump and his family members, will now be able to provide digital currency directly to clients without relying on a third-party company like BitGo.

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