Warren Criticizes OCC Over Trump-Linked Crypto Venture

US Senator Elizabeth Warren has urged the Office of the Comptroller of the Currency (OCC) to reject or pause its review of a bank charter application linked to President Donald Trump's crypto venture. The application, submitted by WLTC Holdings LLC last month, seeks approval for World Liberty Trust Company, National Association, a federally regulated entity designed to support the firm's USD1 stablecoin operations.

The OCC has confirmed that it will process the submission 'as we process all applications,' but Warren has expressed concerns about the potential conflict of interest. She argued that approving the charter would place the regulator in an unprecedented position, effectively overseeing and shaping the profitability of a company connected to the sitting president.