OCC's Jonathan Gould Affirms Stringent Review of World Liberty Financial's Trust Bank Charter

The U.S. regulatory landscape for cryptocurrency-related financial institutions has intensified its scrutiny, with the Office of the Comptroller of the Currency (OCC) announcing a rigorous examination process for charter applications in this sector. Most recently, this commitment to detailed evaluation has become especially relevant in the case of World Liberty Financial (WLF), a project that has drawn significant political attention.

The Regulatory Framework Behind the Scrutiny

A national trust bank license represents one of the most closely monitored regulatory designations in U.S. banking, requiring thorough compliance verification and fiduciary responsibility assessments. The OCC’s decision to apply full scrutiny to such applications reflects broader concerns about the intersection of emerging financial technologies and traditional banking safeguards. Jonathan Gould, a senior regulatory official at the OCC, underscored this commitment by confirming that all charter applications undergo identical evaluation standards regardless of the applicant’s profile or public prominence.

Senator Warren’s Objections and the Wealth Generation Question

The review process gained heightened visibility following public statements from Senator Elizabeth Warren, who has vocalized reservations about the WLF application. According to reporting from Odaily, Warren’s opposition centers on concerns that the charter approval could enable the accumulation of substantial unrealized gains—potentially benefiting President Donald Trump and his family members significantly. Her intervention represents a notable instance of legislative scrutiny directed at high-profile cryptocurrency ventures seeking traditional banking credentials.

Maintaining Consistent Standards Across All Applications

Jonathan Gould’s recent communications reaffirmed the OCC’s institutional position: WLF’s application will proceed through the identical rigorous assessment framework applied to every charter request, without exception or preferential treatment. This statement serves as both a procedural clarification and an implicit response to concerns that political or financial prominence might influence regulatory outcomes. The emphasis on uniform standards reflects the OCC’s broader mission to ensure that regulatory compliance and public interest considerations remain paramount in all licensing decisions, regardless of external pressure or the applicant’s high-profile nature.