OCC Head: Only Democrats Are Pressuring World Liberty Financial

Jonathan Gould, head of the US Office of the Comptroller of the Currency (OCC), stated that there was no political pressure in reviewing the national trust charter application of World Liberty Financial, a company owned by the Donald Trump family. During a hearing before the House Committee on Financial Services, Gould emphasized that he had not received any order from the president to grant special privileges to this project. As reported by Cointelegraph.com reports .

New York Congressman Gregory Meeks asked about World Liberty Financial's ties to foreign governments and the Binance exchange during the hearing. The crypto company, which applied for an OCC charter in January, had sparked sharp objections from Democratic lawmakers. Meeks argued that the company directly serves the interests of the president's family and demanded that the regulator review the application based on strict standards.

Jonathan Gould, in turn, rejected the lawmakers' accusations, stating that the only pressure was coming from Democrats and certain senators. According to him, such political interference is unprecedented. The OCC had previously approved or conditionally approved applications from major crypto companies such as Coinbase, Ripple, BitGo, Circle, Fidelity Digital Assets, and Paxos.

Obtaining a national trust charter allows crypto companies to provide certain services without the strict regulatory requirements imposed on traditional banks. Currently, not only World Liberty but also Payward, the parent company of the Kraken exchange, is awaiting such a license. Meanwhile, the US Senate is expected to vote on the CLARITY Act, a bill regulating the digital asset market.