OCC approves Trump family crypto company for trust charter

Amid scrutiny and accusations of conflicts of interest from many lawmakers, the US Office of the Comptroller of the Currency (OCC) gave conditional approval for World Liberty Financial’s application for a national trust bank.In a Friday notice, the OCC said the conditional approval for World Liberty’s charter application, subject to certain regulatory and policy requirements, would allow the company to operate under the title World Liberty Trust Company, National Association. According to its application, the World Liberty bank proposed issuing US dollar-backed stablecoins and custodying digital assets related to the company’s USD1 token.The OCC approval came amid concerns about potential conflicts of interest between World Liberty and US President Donald Trump’s family. The president and his three sons are affiliated with the company, and the head of the OCC, Jonathan Gould, was nominated by Trump in 2025. World Liberty’s website also said a Trump family entity controlled 38% of the company’s equity interests.According to the agency, “the Comptroller and staff acted consistently with their statutory duties and ethical obligations with respect to the Application.” Gould previously ...