Bank Regulator Considers Sharing Trump Family Crypto Firm’s Charter Application

The nation's top banking regulator may allow senior lawmakers to review World Liberty Financial's application for a national trust bank charter. The cryptocurrency company, operated by President Trump's sons, has faced Democratic concerns about potential conflicts of interest.

WASHINGTON – The nation’s chief banking regulator indicated Thursday he might grant a congressional request to let senior lawmakers examine the banking charter application submitted by World Liberty Financial, a cryptocurrency business operated by President Donald Trump’s family.

During testimony before the Senate Banking Committee, Comptroller of the Currency Jonathan Gould, who was appointed by Trump last year, told Democratic Senator Elizabeth Warren he would “entertain” her request for confidential access to the crypto firm’s national trust bank charter application, which was submitted in January. Approval of such a charter would enable the company to broaden its business activities.

Senator Warren, alongside fellow Democrats who have expressed worries about possible conflicts of interest, requested that Gould provide both her and Republican Senate Banking Committee Chairman Tim Scott with a complete, unredacted version of the application to verify it contains all required details.

Warren and additional Democratic committee members also urged Gould to either deny or postpone consideration of the application. The Trump sons and other business partners manage World Liberty Financial.

Democratic lawmakers also referenced Wall Street Journal coverage indicating that the United Arab Emirates’ national security adviser holds a significant investment stake.

A representative for World Liberty Financial stated the firm has met all regulatory requirements throughout the application procedure, including mandatory disclosures.

Company spokesperson David Wachsman said, “Democrats are playing politics and, with baseless lies, smearing a private American company undergoing a rigorous regulatory process.”

The White House has previously stated that the Trump family’s cryptocurrency business connections do not create a conflict of interest.

Gould described the licensing procedure as being managed by “superb” agency personnel and noted that the process is outlined in publicly accessible staff guidelines.

During the congressional hearing, he stated, “We process applications in a fair and evenhanded manner.”

A trust bank charter permits companies to manage and store customer assets while processing payments more quickly, though these institutions cannot accept deposits or issue loans. Multiple other cryptocurrency companies have obtained preliminary approval for similar charters.