OCC Faces Scrutiny Over Trump-Linked Crypto Charter Application

The Office of the Comptroller of the Currency (OCC) is under pressure after a trust charter application by World Liberty Financial, a crypto company with ties to the Trump family, was brought before the House Financial Services Committee. The application has been criticized by Democrats for potential conflicts of interest.

OCC Chief Jonathan Gould testified that the review process remains impartial and nonpartisan, despite accusations from Representative Gregory Meeks that he is serving as the former president's 'fixer.'

The OCC has conditionally approved applications from several high-profile crypto firms since December 2025, including Coinbase, Ripple, and Fidelity Digital Assets. This trend has drawn mixed reactions, with some arguing it fosters innovation and regulatory clarity while others claim it opens the door to insufficiently vetted firms gaining access to the U.S. financial system.

The controversy surrounding World Liberty Financial highlights the political tensions surrounding crypto regulation and raises questions about the OCC's commitment to impartiality. The Senate is expected to vote on the CLARITY Act, a comprehensive crypto market structure bill, later this summer.