OCC: Process Review for WLFI Charter Application Will Remain Apolitical

BlockBeats News, January 25th, the Office of the Comptroller of the Currency (OCC) of the United States stated that no political or personal financial relationships would impact the review process for the Trump family's crypto project WLFI's bank charter application. Anti-crypto Senator Elizabeth Warren called for a halt to WLFI's national trust bank charter application unless the Trump family divests its stake in WLFI, a request that the OCC has rejected.

OCC's Inspector General Jonathan Gould responded to Warren's letter, stating, "OCC intends to carry out this review responsibility, rather than meet your demands."

Cryptocurrency companies have long struggled to obtain a U.S. national trust bank charter. However, a breakthrough was achieved last December when the OCC conditionally approved Ripple, Circle, Paxos, BitGo, and Fidelity Digital Assets as five digital asset firms to transition to federally chartered national trust banks.