Today, the U.S. House Financial Services Committee held a hearing with banking regulators, focusing on stablecoin rules and the banking license application of World Liberty Financial, a crypto venture associated with the U.S. President.
During the hearing, Acting Comptroller of the Currency Jonathan Gould stated that the only political pressure the agency has felt regarding the decision to grant a banking license to World Liberty Financial came from Democrats, and he rejected allegations that the agency was following the President's directives. Additionally, FDIC Chairman Travis Hill indicated that the agency will soon propose a rule requiring stablecoin issuers to implement customer identification procedures. (coindesk)