World Liberty Bank Charter Review Continues Despite Warren’s Criticism

The Office of the Comptroller of the Currency (OCC) has confirmed it will continue reviewing World Liberty Financial Institution’s (WLFI) application for a national bank charter, despite strong objections from US Senator Elizabeth Warren.

Warren had urged the regulator to immediately halt the process, arguing that WLFI’s reported ties to President Donald Trump and his family raise serious concerns about political influence and the integrity of federal bank oversight. In response, OCC Comptroller Jonathan Gould said the agency is legally required to evaluate all charter applications under existing regulatory standards, regardless of political pressure.

He emphasized that the OCC’s chartering process must remain apolitical and nonpartisan, adding that WLFI’s application will undergo the same level of scrutiny applied to previous filings. Warren rejected this explanation, calling the review a “sham” and accusing Gould, who serves at the president’s pleasure, of refusing to delay the process until Trump and his family divest from the company.

Regulatory Scrutiny Intensifies

The dispute comes as more crypto-focused firms seek to enter the traditional banking system by acquiring national bank charters. Companies such as Paxos, Circle, and Ripple have already laid the groundwork, with Paxos applying for a license in mid-2025 and Ripple receiving conditional approval last December. These developments signal a broader shift in US financial regulation, as crypto firms aim to operate with the same legal standing as established banks.

The OCC’s evolving stance has made this possible, following recent policy changes that allow banks to facilitate crypto trading for customers and to custody digital assets like Bitcoin, Ethereum, and XRP, including using them to pay network transaction fees. Against this backdrop, the World Liberty Bank application has become a flashpoint in the wider debate over crypto regulation, political influence, and how far traditional banking rules should extend into the digital asset sector.

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