Invest ideasNews
24 Jan 2026, 05:30
Senator Warren raises concerns about Trump and his family's participation in WLF
The US Office of the Comptroller of the Currency (OCC) announced that it will continue evaluating World Liberty Financial’s application for a national trust bank charter, rejecting calls by Democratic lawmakers to pause the process amid concerns over potential conflicts of interest involving the firm’s prominent founders. In a decision that has drawn bipartisan attention, Comptroller of the Currency Jonathan V. Gould affirmed that the agency will not delay its review of the application submitted by World Liberty Financial (WLF) on January 7. Reports highlighted that US Senator Elizabeth Warren, a ranking member of the Senate Banking, Housing, and Urban Affairs Committee, recommended a postponement. She advised that the process be delayed until US President Donald Trump decides to sell his holdings in the cryptocurrency decentralized finance (DeFi) platform. Senator Warren raises concerns about Trump and his family’s participation in WLF In a statement dated Friday, January 23, the head of the OCC, Jonathan Gould, mentioned that the submitted application from WLF will be reviewed under the current regulations. Moreover, he assured that there will be no political or personal financial relationships that would impact the bank charter assessment in any way. Concerning Warren’s letter, Gould declared that, “The OCC plans to fulfill its responsibilities instead of following your request,” further adding that, “The OCC’s charter application process should be neutral and nonpartisan, and under my guidance, it will remain that way.” Meanwhile, the OCC head also affirmed that WLF’s application will face close scrutiny, similar to those the OCC has handled previously. It is worth noting that what triggered Warren to request a delay in the review process was the fact that Trump and his three sons: Donald Trump Jr., Eric Trump, and Barron Trump are listed on the World Liberty Financial’s website as co-founders. Additionally, the Senator raised concerns regarding the billions in unrealized paper wealth the platform generated for their family. This situation sparked further concerns when WLF submitted an application to expand its cryptocurrency business on January 7. This expansion motive consisted of acquiring permission to internally provide, store, and convert their USD1 stablecoin rather than relying on third-party firms such as BitGo, a digital asset infrastructure and financial services company. The OCC simplifies the process of acquiring national trust banking charters Established in March 2025, USD1 has gained significant popularity as the preferred means of payment, settlement, and treasury tasks internationally. As a result, the stablecoin secured the sixth position in terms of market value after its value rose to $4.2 billion. Regarding WLF’s application for a national trust bank charter, reports highlighted that crypto firms encountered difficulties in attempts to acquire national trust banking charters in the past. However, after several considerations, a major transformation was observed in December last year when the Office of the Comptroller of the Currency issued five conditional approvals to leading cryptocurrency and blockchain infrastructure companies: Circle, Ripple , Fidelity Digital Assets, BitGo, and Paxos. This shift in decision indicates that the currency regulator is exploring integrating cryptocurrency services into traditional financial frameworks. Meanwhile, in a notice made public earlier last month, the OCC alleged that its decision to issue conditional approvals for BitGo, Fidelity Digital Assets, and Paxos was intended to convert their current state-level trust firms into federally chartered national trust banks. Following this statement, Gould, the Comptroller of the Currency, commented that, “New companies entering the federal banking sector benefit consumers, the banking industry, and the economy.” He added that, “the OCC will keep creating opportunities for both traditional and innovative financial services to ensure that the federal banking system adapts to changes in finance and supports a modern economy.” Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
24 Jan 2026, 05:10
The UK Financial Conduct Authority is entering the final phase of its consultation on crypto regulation
The UK Financial Conduct Authority is entering the final phase of its consultation on crypto regulation and is gathering feedback on applying the consumer duty to crypto firms. The FCA emphasizes that rules are meant to set industry standards and not eliminate inherent investment risks, although the consumer duty requires firms to act in good faith. The UK regulator plans to collect all feedback by March 12 and open an application gateway for cryptoasset approvals in September. The FCA hopes to be done with all this before October, when new rules, including those already registered under money-laundering regulations (MLRs), will be authorized. The FCA has also set out proposals on how conduct standards, safeguarding, and redress will apply to crypto firms. These proposals are expected to continue the regulator’s progress towards an open, competitive, and sustainable crypto market that investors can trust. The consumer duty sets standards for crypto companies to ensure that they deliver positive outcomes for customers while helping them navigate their financial lives. Final consultation follows the package of proposals last December According to the FCA, these final consultations follow a package of proposals set out last December on applying the same approach to traditional finance in crypto. The regulator seeks to provide clear information for consumers, with well-balanced requirements for companies and flexibility to support innovation. The UK regulator is consulting on how the consumer duty will be supported by additional non-Handbook guidance to ensure companies deliver sufficient outcomes for retail customers. It will also seek feedback on its approach to handling conflicts and redress in order to ensure consumers have a clear path to resolving issues. Moreover, the FCA is looking at how to apply key conduct rules to crypto activities so that companies act transparently and fairly. Rules on buying crypto on credit and reducing the risks of harm from borrowing to invest will also be considered. The regulator is also following feedback on its approach to categorizing crypto firms under the Certification Regime and the Senior Managers Regime. Standards for staff skills and knowledge need to be set so that firms have competent employees managing crypto services. The FCA also wants crypto firms to report data to the regulator so that it can monitor risks and supervise operations effectively. It reminds investors that crypto is largely unregulated in the UK and is currently used for financial promotions and financial crimes. FCA awards Ripple MLR registration The FCA recently awarded MLR registration to XRP issuer Ripple, following its start of accepting applications last September. According to a notice published on its official website on January 22, the road to formal crypto regulation in the UK became clearer at the end of last year, with legislation from the Treasury extending existing financial rules to include crypto firms. Meanwhile, the FCA said earlier this month that crypto firms looking to offer services in the UK would be required to be authorized under the new rules taking effect in October 2027. The requirement also applies to crypto firms already registered under its MLRs. Crypto firms must also comply with operational resilience, consumer duty, financial crime, and governance requirements. The firms already registered under anti-money laundering or payment regulations will need full authorization, while those authorized by the FSMA must vary their permissions. However, the FCA does not plan to extend Financial Service Compensation Scheme (FSCS) protection to cryptoassets. The FSCS provides compensation for customers when companies cannot meet their liabilities. That will not be the same with investors in crypto firms that go out of business. These customers will not be able to claim compensation for investment losses, even those arising from regulated crypto activities. There are also potential inconsistencies in this approach, according to the FCA. Claims about shares held in custody will be covered by the FSCS, but claims about safeguarding tokens representing shares on blockchains will not be covered. The smartest crypto minds already read our newsletter. Want in? Join them .
24 Jan 2026, 04:49
Senators suggested changes to stop fake transactions at digital asset kiosks
US Democratic senators drafting legislation on the cryptocurrency market structure filed multiple amendments on Friday, including provisions aimed at curbing conflicts of interest involving officials who profit from the crypto industry. Senators from both parties have submitted a flurry of changes to the pending bill — popularly known as the CLARITY Act in its current draft — ahead of a key markup session later this month. Among the most contentious proposals are ethics-focused provisions aimed at curbing potential conflicts of interest among senior government officials. Sen. Michael Bennet of Colorado was among the lawmakers who sought to add the “Digital Asset Ethics Act” to the bill, an amendment that would bar top officials like the President, Vice President, and members of Congress from certain crypto-related financial transactions. Currently, the bill is scheduled for debate in the Senate Agricultural Committee on Tuesday next week. Senators suggested changes to stop fake transactions at digital asset kiosks The proposed ethics amendment aims to ease concerns among many Democrats about Trump and his family’s involvement in crypto. Bloomberg puts Trump’s crypto-related earnings at approximately $1.4 billion, driven in part by the DeFi and stablecoin project World Liberty Financial. Not to mention, the president’s family maintains a 20% stake in the mining company American Bitcoin. Lawmakers also submitted amendments to curb fake transactions at digital asset kiosks, including one from Sen. Amy Klobuchar, D-Minn., that would hold off a crypto bill until at least four CFTC commissioners are confirmed. The issue has sparked debate among lawmakers, as the CFTC currently has only one commissioner, Chair Michael Selig, out of a possible five, and no more than three can belong to the same political party. Republicans and Democrats are still split on several fundamental policy issues on the bill, Sen. John Boozman, R-Ark., chair of the Senate Agriculture Committee, shared Wednesday. He added, however, that he appreciates the teamwork that helped improve the legislation. For the crypto structure bill to pass in the Senate, Democrats must weigh in, since 60 votes are needed, meaning at least 7 Democrats would have to support it, even with all Republicans on board. Senator Kirsten Gillibrand believes the crypto market structure bills will advance Even though Republicans and Democrats haven’t reached a consensus, Senator Kirsten Gillibrand, D-NY, said she remains hopeful the committee’s updated crypto legislation will move forward. “Senators have been working on a bipartisan basis for the last six months pretty intensely, and we have two different bills,” Gillibrand told reporters. She argued that both bills, the one under the Agriculture Committee, which oversees the CFTC, and the second bill, still under debate by the Banking Committee, responsible for the SEC and banking regulations, are being advanced together. The Democratic senator, though not a member of the Agriculture Committee, has been engaged in negotiations on the crypto legislation. However, the markup hearing on the Senate Banking Committee’s draft digital asset legislation, originally scheduled for Jan. 15, was delayed at the last minute due to opposition from crypto companies such as Coinbase . When asked about the possibility of delays for the Senate Agriculture Committee’s hearing, Gillibrand contended that, despite unresolved bipartisan issues, she expects the markup to go ahead on Tuesday. She further asserted that the Agriculture Committee’s draft is still under review and hopes senators will continue to collaborate to amend and improve it. However, she encouraged Senators to look back on some bipartisan compromises they made on an earlier draft of the bill that were later omitted. She said, “My hope is that those senators can get back to the drawing board and try to re-include some of those compromises that I thought were very strong.” Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
24 Jan 2026, 04:00
A New Crypto Era: SEC-CFTC To Host Joint Regulatory Harmonization Event Next Week
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced a joint event on the future of crypto oversight amid the Trump administration’s push to welcome the sector. SEC-CFTC Push Joint Crypto Oversight On Thursday, SEC Chairman Paul Atking and CFTC Chairman Michael Selig announced they will hold an event next week to discuss regulatory harmonization between the two sister agencies. According to the announcement, the pro-industry chairmen will outline the efforts to work together and cooperate to “deliver on President Trump’s promise to make the United States the crypto capital of the world.” The event will be hosted on January 27 at the CFTC headquarters and moderated by crypto journalist Eleanor Terret. Additionally, it will be open to the public and livestreamed on both agencies’ websites. “For too long, market participants have been forced to navigate regulatory boundaries that are unclear in application and misaligned in design, based solely on legacy jurisdictional silos,” said SEC Chair Atkins and CFTC Chair Selig in a joint statement. “This event will build on our broader harmonization efforts to ensure that innovation takes root on American soil, under American law, and in service of American investors, consumers, and economic leadership,” they added. Last year, the SEC and CFTC began discussing their options for effectively collaborating on crypto regulations, as a clear framework for digital assets became a top priority for the agencies As reported by Bitcoinist, the agencies explored reinstating the CFTC-SEC joint advisory committee to develop recommendations on ongoing issues, including efforts in regulatory coordination. During a September joint roundtable between the two agencies, Atking declared that the era of regulatory fragmentation was ending and the age of harmonized, innovation-friendly crypto oversight was here: We are at a crossroads. If we follow the path of our predecessors, America risks ceding leadership in the next chapter of financial history. (…) This ends now (…) our two agencies must work in lockstep to transform dual regulation from a source of confusion into a source of strength. Together, we can offer the best of both worlds: the investor protections that have defined U.S. markets, combined with the innovation-friendly approach that will keep us at the frontier of financial technology throughout the 21st century. The SEC’s Director of the Division of Trading and Markets, Jamie Selway, highlighted the SEC’s efforts to “further harmonize its rules with our sister regulator, the CFTC. In a January 22 speech, He affirmed that the Division will work shoulder-to-shoulder with the CFTC staff to ensure the US’s continued leadership in financial markets, following Atkins’ September directions. Congress Regulatory Efforts Stall The SEC and CFTC’s efforts to regulate the crypto market come as the US Congress struggles to establish a framework to oversee the sector. The Senate Banking Committee’s version of the market structure bill, which focuses on the SEC’s oversight, was delayed after multiple market participants criticized the bill’s draft. Coinbase CEO Brian Armstrong shared his disappointment with the crypto legislation, withdrawing the company’s support last week. “This version would be materially worse than the current status quo. We’d rather have no bill than a bad bill,” he affirmed. The Senate Agriculture Committee published its version of the CLARITY Act on Thursday, which mainly addresses the CFTC’s role and regulations, scheduling its markup session for January 27. Eleanor Terret shared that the industry’s reaction has been mostly positive, “with stakeholders noting the bill’s close similarities to the House Agriculture Committee’s version of the Clarity Act.” However, recent reports have warned that the Banking Committee’s crypto talks may not resume until later February or early March, as focus shifts to advancing affordable housing plans linked to President Trump’s priorities.
24 Jan 2026, 03:30
Bullish Shift as SEC Allows Nasdaq Bitcoin ETF Options to Operate at Scale
Nasdaq has cleared the way for significantly expanded trading in bitcoin and ethereum-linked options after a fast-tracked SEC greenlight removed long-standing contract limits on major crypto ETFs. SEC Steps Aside as Nasdaq Expands Crypto ETF Options — A Bullish Setup for Traders The U.S. Securities and Exchange Commission (SEC) published a notice on Jan. 21
24 Jan 2026, 02:00
$48M Bitcoin Heist: Phishing Scam Empties South Korea’s Seized Crypto
South Korean authorities have come under scrutiny after a large stash of seized Bitcoin went missing during a routine check. The loss was discovered when officials found that some of the wallets that had been held as criminal evidence were empty. According to multiple reports, the value of the missing Bitcoin is about 70 billion won — roughly $47.7–$48 million. How Officials Found The Theft Reports say the gap showed up during a routine audit of confiscated digital assets at the Gwangju District Prosecutors’ Office. An internal check flagged transfers from wallets that had been marked as evidence, and investigators traced the movement back to external addresses. The office immediately opened an inquiry to determine how access was lost and whether any recovery is possible. Initial findings point to a phishing scam as the trigger. According to local coverage, a staff member accessed a fraudulent website that impersonated a legitimate service, and that interaction exposed passwords and private keys. Once the credentials were captured, the Bitcoin was moved out in transactions that cannot be reversed. Security Lapses And USB Storage Reports note that some of the access details for the seized assets were kept on portable drives rather than in hardened custody systems. That practice appears to have made it easier for attackers to grab the keys once the phishing trap was sprung. Simple mistakes can cost millions when the asset is bearer-like and transfers are final. The theft has raised hard questions about how state agencies handle crypto. Some experts say that the tools used by prosecutors were more suited to personal use than to government-level custody. There are calls for stricter rules, multi-signature setups, and cold storage protocols that do not rely on easily copied passwords. Tracing The Bitcoin Blockchain records show the funds moving through several wallets after the initial transfer. That public trail gives investigators leads, but tracing tokens to a final cash-out point is often slow and requires cooperation from foreign exchanges and on-chain analytics firms. Reports say authorities are working with outside specialists to map the flow. What Prosecutors Are Doing Next The Gwangju prosecutors’ office has vowed a full probe, and officials are trying to reconstruct events step by step. There are also signs that the incident will trigger a review of national procedures for holding seized digital property. Some lawmakers and legal experts have already called for clearer standards and oversight. Featured image from Pexels, chart from TradingView
