Elizabeth Warren, a longtime crypto critic, has joined other Democrats in scrutinizing World Liberty's stablecoin initiative. The project recently received preliminary conditional approval from the Office of the Comptroller of the Currency to establish World Liberty Trust Co., a national trust bank tasked with issuing USD1, a stablecoin backed by the Genius Act of 2025. This approval marks a significant milestone, representing the first step toward launching a federally chartered trust bank capable of issuing USD1 under the new legislation.

While Warren and others express skepticism, the team behind the stablecoin remains optimistic, stating they look forward to working with the OCC to meet all legal and operational requirements for final approval. The development highlights the growing partisan divide over cryptocurrency regulation in Washington, as some Democrats who supported the Genius Act now oppose specific implementations. The outcome could influence broader adoption of stablecoins and federal oversight in the crypto sector.