BlockBeats news: On January 25, the Office of the Comptroller of the Currency (OCC) stated that political or personal financial relationships would not influence the procedural review of the Trump family's cryptocurrency project, WLFI, in its application for a banking license. Senator Elizabeth Warren, who is critical of cryptocurrencies, had demanded a suspension of WLFI's application for a national trust bank charter unless the Trump family sold their shares in WLFI. The OCC has rejected Warren's request.
In his response to Warren, the Comptroller of the OCC, Jonathan Gould, stated, "The OCC intends to fulfill this review responsibility rather than comply with your request."
For a long time, cryptocurrency companies have found it difficult to obtain a U.S. national trust bank charter. However, a breakthrough was achieved last 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.