Overview
- Comptroller Jonathan Gould told Sen. Elizabeth Warren the OCC will proceed with World Liberty Financial’s national trust bank application, citing a duty to act within prescribed timeframes under law.
- Warren had urged a halt until President Trump divests from the company, calling the ongoing review a sham and warning of unprecedented conflicts of interest.
- The OCC said the charter review will follow an apolitical, nonpartisan process focused on whether the applicant meets regulatory standards.
- Approval of a national trust charter would let World Liberty Financial issue, custody, and manage its USD1 stablecoin within its own regulated banking structure.
- USD1 has grown to a multibillion‑dollar market capitalization, intensifying policy scrutiny as Democrats push for new ethics guardrails in crypto legislation that Republicans have resisted.