The US Office of the Comptroller of the Currency (OCC) has confirmed it will continue reviewing World Liberty Financial’s application for a national trust bank charter, despite calls from Democratic lawmakers to pause the process over potential conflicts of interest.
In a formal response, the OCC stated that the bank charter application will proceed under existing regulatory standards. The agency rejected a request to suspend the review until President Donald Trump divests from the crypto platform, emphasizing that political influence and personal financial ties will not affect the decision-making process.
The OCC leadership reiterated that the charter review process is intended to remain apolitical and nonpartisan, and that World Liberty Financial will be subject to the same level of scrutiny as any other applicant. Officials described the review as rigorous and procedural, in line with the agency’s statutory responsibilities.
Critics have pointed to the involvement of the president and his sons as founders of World Liberty Financial, citing the platform’s rapid growth and the significant paper wealth attributed to the family. Lawmakers argue that these connections raise questions about ethics and transparency as the company seeks expanded banking authority.
World Liberty Financial submitted its application to support broader crypto operations, including the in-house issuance, custody, and conversion of its USD1 stablecoin, rather than relying on third-party service providers. The stablecoin has grown quickly, becoming one of the largest by market capitalization since its launch.
While crypto firms have historically struggled to secure national trust bank charters, recent conditional approvals granted to major digital asset companies suggest a shift in regulatory openness toward integrating crypto with traditional finance.
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This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.