OCC: The procedural review of WLFI's application for a banking license will remain non-political

The Office of the Comptroller of the Currency (OCC) stated that the review process for the Trump family's cryptocurrency project WLFI's application for a banking license will not be affected by any political or personal financial relationships. Anti-cryptocurrency Senator Elizabeth Warren has called for a suspension of WLFI's national trust bank license application unless the Trump family sells its stake in WLFI, which the OCC has rejected.

OCC's Auditor Jonathan Gould stated in a letter responding to Warren, "The OCC intends to fulfill this review responsibility rather than accommodate your request."

For a long time, cryptocurrency companies have found it difficult to obtain a national trust bank license in the United States. 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 to federally chartered national trust banks.