OCC approves Trump family crypto company for trust charter
The US Office of the Comptroller of the Currency gave conditional approval to World Liberty Financial’s application for a national trust bank, allowing it to operate as World Liberty Trust Company, National Association if it meets regulatory requirements. The proposed bank would issue US dollar-backed stablecoins and custody digital assets tied to the USD1 token. The decision drew criticism over possible conflicts of interest because Donald Trump and his sons are affiliated with World Liberty, and OCC head Jonathan Gould was nominated by Trump in 2025. World Liberty has said a Trump family entity controls 38% of its equity interests. Senator Elizabeth Warren called the approval “the most brazen act of self-dealing” and introduced legislation aimed at stopping such conflicts. Lawmakers are also examining World Liberty’s foreign ties, including a reported $500 million stake sold to an Abu Dhabi-backed investment firm and MGX’s use of USD1 in a $2 billion Binance investment. The White House says there are no conflicts of interest.
