OCC Rejects Political Influence in WLFI Bank Charter Review

The Office of the Comptroller of the Currency (OCC) has affirmed that its review of WLFI’s bank charter application will remain free from political or personal financial influences. This statement comes after Senator Elizabeth Warren called for a suspension of the Trump family’s cryptocurrency project, WLFI, unless they divested their shares. The OCC, led by Comptroller Jonathan Gould, has rejected Warren’s request, emphasizing its commitment to an impartial review process.

Cryptocurrency firms have historically faced challenges in securing U.S. national trust bank charters. However, the landscape shifted last December when the OCC conditionally approved five digital asset companies, including Ripple and Circle, to become federally chartered national trust banks.