Trump family-backed crypto firm World Liberty gets conditional bank charter approval
The US Office of the Comptroller of the Currency conditionally approved World Liberty Trust Co.'s national trust bank charter. The approval would let the Trump family-backed firm issue stablecoins.
The US Office of the Comptroller of the Currency has conditionally approved a national trust bank charter for World Liberty Trust Co., an affiliate of the Trump family-backed crypto firm World Liberty. The approval would clear the way for the company to issue a dollar-backed stablecoin.
The decision comes at a moment when cryptocurrency regulation has become a politically sensitive issue in the US. Granting a bank charter to a firm in which the Trump family holds direct financial interests has drawn criticism over potential conflicts of interest.
Regulators stressed that the approval remains conditional, though it is not yet clear exactly when or how the company will need to satisfy those conditions. The development is being seen as a further sign of how quickly the regulatory landscape for crypto is shifting in the US.
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