Overview
- Multiple mid-June reports say Comptroller Jonathan Gould is expected to announce a decision soon and former OCC staffers told reporters that approval of World Liberty Financial’s national trust bank application is likely.
- If approved the charter would let World Liberty issue and redeem its USD1 stablecoin, hold reserves, provide digital-asset custody, and run settlement services under OCC supervision while not authorizing FDIC insurance or traditional deposit taking.
- Public disclosures show President Trump and his sons helped found World Liberty and retain major financial interests in the company, raising ethics questions about a regulator acting on an application tied to the sitting president.
- Lawmakers and watchdogs have pressed concerns about foreign and counterparty ties, citing a reported UAE-backed stake, business links to Binance, and congressional hearings where Democrats questioned conflicts and national security risks.
- The decision would cap a broader OCC shift toward faster, more crypto-friendly charters and could change how U.S. companies settle transactions and which stablecoins dominate commerce while likely triggering legal and oversight challenges.