OCC Allows World Liberty Financial Bank Application to Move Forward Despite Warren’s Objections

A banking application tied to World Liberty Financial Inc., a cryptocurrency firm partially owned by U.S. President Donald Trump, will continue through the standard regulatory process, according to the head of the Office of the Comptroller of the Currency (OCC). The decision comes after U.S. Senator Elizabeth Warren urged regulators to apply heightened scrutiny due to what she described as a significant conflict of interest involving the president and his family.

Jonathan Gould, the Comptroller of the Currency, formally rejected Warren’s request, stating that the OCC is legally obligated to review bank charter applications in a timely, neutral manner. In a letter sent to the Massachusetts senator, Gould emphasized that Congress has directed the agency to process applications without political interference. He added that the OCC intends to keep charter reviews “apolitical and nonpartisan,” focusing solely on whether applicants meet regulatory standards and compliance expectations.

World Liberty Financial is seeking approval for a trust bank charter, a route increasingly pursued by crypto firms aiming to operate within the traditional financial system. The application has drawn attention because of President Trump’s partial ownership stake in the company, raising questions about regulatory independence and ethics. Warren, the top Democrat on the Senate Banking Committee, has been vocal in her criticism, arguing that federal agencies overseen by the Trump administration should not regulate a company linked to the president without additional safeguards.

In a statement responding to Gould’s decision, Warren said the OCC’s review process lacks credibility as long as Trump and his family retain financial ties to World Liberty Financial. She warned that such conflicts undermine public trust and insisted that any future crypto market structure legislation must include strict guardrails to prevent corruption.

Gould, who previously worked as an executive at blockchain firm Bitfury, has publicly defended crypto companies’ efforts to obtain trust charters, despite pushback from traditional banking institutions. His stance reflects a broader regulatory debate over how digital asset firms should be integrated into the U.S. banking system.

As scrutiny of crypto regulation, political influence, and banking oversight intensifies, the World Liberty Financial application is likely to remain a focal point in the ongoing clash between lawmakers and financial regulators over transparency, ethics, and the future of crypto banking in the United States.