Trump Family's Crypto Firm World Liberty Financial Expected to Receive Federal Bank Charter
By
Jeff Stein
The bagel they save for the regulars. Don't skim, savour.
Summary
President Donald Trump's family crypto business, World Liberty Financial, has applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC). The Trump-appointed head of the OCC, Jonathan Gould, is expected to approve the application soon, which would allow the stablecoin and trading platform to operate like a bank. This decision raises ethics concerns as it would give U.S. companies a new route to steer money to the president, with industry experts and congressional aides anticipating approval despite potential conflicts of interest.
Key quotes
· 3 pulledPresident Donald Trump's family crypto business is expected to soon be allowed to operate like a bank — a decision that would give U.S. companies a new route to steer money to the president.
World Liberty Financial, the stablecoin and trading platform co-founded by Trump and his three sons, applied for a national trust bank charter with the Office of the Comptroller of the Currency, or OCC, on Jan. 5.
The Trump-appointed head of the OCC, Jonathan Gould, is due to announce his decision soon, and industry experts and congressional aides expect it to go in the
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