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Crypto

U.S. OCC conditionally approves World Liberty trust bank charter, opening path to directly manage USD1

The U.S. Office of the Comptroller of the Currency has conditionally approved a national trust bank charter application by World Liberty Financial, a crypto firm linked to the Trump family. The company can operate as World Liberty Trust Company, National Association if it meets regulatory and policy requirements. The move has drawn conflict-of-interest criticism and Democratic pushback, while lawmakers also raise concerns about foreign-linked funding and related transactions.

Crypto

Trump family-backed World Liberty linked to Hong Kong AI platform offering sanctioned Chinese models, supports USD1 payments

World Liberty Financial, a crypto firm backed by U.S. President Donald Trump, has been linked to a Hong Kong AI platform that offers models from Chinese developers the U.S. government flags as security risks, stirring controversy. The platform supports payments in USD1, a dollar-pegged stablecoin issued by World Liberty. Critics say wider USD1 use could boost the firm and benefit the Trump family, while others cite security and data risks.

Crypto

U.S. OCC reaffirms push to expand new bank charters, quickening crypto firms\' entry

The U.S. Office of the Comptroller of the Currency has reaffirmed its policy of promoting de novo bank charters, accelerating crypto firms’ entry into the federal banking system. Ripple, Circle, Crypto.com and Paxos have received conditional approvals linked to national trust bank charters, while Coinbase’s application is under review. Traditional banking groups have urged the OCC to reject or slow such applications, citing risk management, internal controls and governance concerns.