World Liberty Financial’s preliminary bank charter approval could complicate Senate efforts on Clarity Act

https://gizmodo.com/trumps-world-liberty-financial-makes-ftx-esque-move-borrows-against-its-own-crypto-token-2000745326 World Liberty Financial, a crypto venture backed by the Trump family, has received preliminary approval from the Office of the Comptroller of the Currency (OCC) for a national bank trust charter. This development could potentially disrupt efforts by the U.S. Senate to pass the Clarity Act, a significant crypto market-structure bill. The Clarity Act, which has already cleared the Senate Banking Committee, is now facing uncertainty as the Senate has adjourned without a final vote. The approval allows World Liberty Financial to manage its USD1 stablecoin under a federally chartered trust bank, subject to regulatory conditions. Pricing in prediction markets appears to reflect a decreased likelihood of the Clarity Act being signed into law this year, with the odds currently at 23.5% for a YES outcome, down from 26% just 24 hours ago. Key Takeaways Market pricing suggests a decreased likelihood of the Clarity Act being signed into law in 2026, now at 23.5% YES. The preliminary approval for World Liberty Financial’s trust charter could complicate the legislative process ...