Financial Times: The company’s business plans include issuing dollar-backed stablecoins and providing custody for digital assets, according to the regulator. WLF will not be authorised to provide loans or take direct deposits.
The approval comes as Trump’s business interests in the crypto sector become a major political flashpoint. Democrats have been pushing for an “ethics clause” to be included in a landmark crypto market structure bill that would prevent top government officials from benefiting from the sector while in office…