Recently, the U.S. Office of the Comptroller of the Currency (OCC) addressed the high-profile WLFI bank charter application, emphasizing that its evaluation process will remain professional and independent, free from any political interference or personal financial influence.
Response to Senator's Request
Prior to this, Senator Elizabeth Warren, known for her anti-crypto stance, urged the OCC to pause WLFI’s national trust bank charter application unless the Trump family divested its stake. In response, OCC Comptroller Jonathan Gould made it clear in an open letter that the agency would continue its review process independently and without yielding to external pressure.
Progress in Crypto Charter Approvals
While cryptocurrency firms have historically faced significant hurdles in obtaining U.S. national trust bank charters, a major breakthrough occurred in December when the OCC conditionally approved five digital asset firms — Ripple, Circle, Paxos, BitGo, and Fidelity Digital Assets — to transition into federally chartered national trust banks.
- OCC maintains independence in its review process
- Political considerations will not affect WLFI's application
- Several crypto firms have successfully secured charters