World Liberty Financial (CRYPTO: WLFI), a cryptocurrency platform co-founded by members of the Trump family, secured conditional approval for a national trust bank charter through World Liberty Trust Co on Friday. This regulatory development allows the firm to issue stablecoins directly, shifting away from its reliance on third-party provider BitGo (NYSE: BTGO).

Regulatory and Political Developments

The charter approval marks a significant structural change for World Liberty Financial, enabling direct stablecoin issuance. This move reduces dependency on external custodial services provided by BitGo.

In political developments, former President Donald Trump is exploring federal intervention to challenge New York City Mayor Zohran Mamdani’s luxury second-home tax. Trump labeled the tax a “dangerous political experiment” that could harm the city. The tax, part of New York’s state budget, is expected to generate around $500 million annually.

Former Governor Chris Christie (R-N.J.) criticized Trump’s Iran strategy, comparing the current administration to former President Jimmy Carter. Christie warned that the U.S. is becoming vulnerable to Iran’s influence over the Strait of Hormuz, citing a lack of clear strategy that could risk the global economy.

Sen. John Fetterman (D-Pa.) announced he will not campaign against Sen. Dave McCormick (R-Pa.) in 2030, highlighting their close relationship and joint fundraising efforts. Fetterman hinted at a potential endorsement for McCormick.

Environmental and community groups filed a lawsuit against the Trump administration, challenging the Environmental Protection Agency’s approval of two chemicals for semiconductor manufacturing. The lawsuit cites reproductive and developmental risks from exposure through drinking water and air, though the EPA’s consent orders did not disclose the chemical names.