A crypto bank charter review in the U.S. has come under scrutiny amid questions over governance and political ties. U.S. Senator Elizabeth Warren has urged the Office of the Comptroller of the Currency (OCC) to pause its review of a bank charter application linked to World Liberty Financial (WLFI), stating potential conflicts of interest.
Elizabeth Warren wrote a letter on January 13 to OCC Comptroller Jonathan Gould, in which she argued that granting a national bank charter application submitted by WLTC Holdings LLC, an entity affiliated with WLFI, while Trump and his family continue to have financial ties in World Liberty Financial, which would place the regulator in an unusual position, like possibly overseeing a company that has a deep connection with the current president.
Earlier, in July 2025, she asked the OCC how it would handle situations where personal business ties could influence official decisions if it reviewed a charter linked to President Trump. Where the OCC Comptroller dismissed the concern as hypothetical, where this particular subject is not under OCC’s oversight, but that scenario has now become real after World Liberty Financial submitted a formal application, she noted in the letter.
She also wrote, “As Comptroller of the Currency, you are responsible for ensuring businesses and households have fair access to financial services and that our banking system remains stable. You must make decisions that benefit the American public—not President Trump’s pocketbook.” She cautioned that the integrity of the American banking system and public confidence in financial supervision could be compromised by such a move.
Debate grows over crypto regulation
With that, Warren connected the bank charter review to broader U.S. regulation of cryptocurrencies. She also criticized the fact that current crypto laws, like the GENIUS Act, do not contain any regulations about situations where a sitting president has financial interests in a crypto company. Even Congress failed to address this issue, which raises questions about the financial system’s fairness, openness, and public trust.
Warren then asked that the OCC pause its review until Trump completely withdraws from WLFI and resolves any associated financial issues, and before moving forward with the application, she asked the Comptroller to provide a formal resolution by January 20. As of now, the Office of the Comptroller of the Currency has not issued an official response.
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