OCC Chief Defends Crypto Charter Review Amid Questions Over Trump-Linked Firm

A congressional hearing on financial regulators turned contentious after Comptroller of the Currency Jonathan Gould rejected allegations that political pressure had influenced the review of a national trust bank charter application connected to World Liberty Financial, a crypto company linked to President Donald Trump and members of his family.

During a House Financial Services Committee oversight hearing, Representative Gregory Meeks questioned Gould about World Liberty Financial’s business ties and whether the company would receive special treatment as regulators consider its application. Meeks argued that the review process must follow the same standards applied to all applicants and raised concerns about potential conflicts of interest.

Gould Pushes Back Against Criticism

Gould denied receiving any direction from the White House regarding the application and stated that the only political pressure he had experienced came from Democratic lawmakers. The exchange became heated, with Meeks accusing the comptroller of acting in the interests of the Trump family, a claim Gould strongly rejected.

Crypto Trust Charters Draw Growing Political Attention

The debate comes as the Office of the Comptroller of the Currency continues reviewing applications from digital asset companies seeking national trust bank charters. Such approvals allow crypto firms to offer specific financial services under a federal framework without facing all the requirements imposed on traditional banks.

Crypto Firms Expand Push for Federal Approval

The OCC has already approved or conditionally approved applications involving several major cryptocurrency companies, including Coinbase, Ripple, BitGo, Circle, Fidelity Digital Assets and Paxos. Meanwhile, Kraken’s parent company, Payward, submitted its own application earlier this year.

Lawmakers are also preparing to debate broader digital asset legislation. The proposed CLARITY Act is expected to advance in the Senate in the coming months, with supporters aiming for passage before the congressional summer recess.