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Cointelegraph by Christina Comben

House Democrats question World Liberty bank charter and $500M UAE-linked stake

Democrats in the US House Financial Services Committee have sent a letter to Treasury Secretary Scott Bessent raising concerns about World Liberty Financial's pursuit of a national trust bank charter tied to a dollar-backed token. The lawmakers cited systemic risk, foreign ownership including an almost half stake reportedly bought by a senior UAE royal for about $500 million, and potential political pressure on the chartering process.
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