Jonathan Gould, head of the Office of the Comptroller of the Currency, denied political bias in the agency's review of a crypto trust charter application from World Liberty Financial — a project tied to the Trump family. The denial comes as Democrats ramp up pressure on the OCC, questioning whether the Trump family connection could influence the regulatory outcome.
Gould's pushback
In a statement on Friday, Gould said the OCC's review is being conducted strictly according to the agency's standard procedures. He rejected any suggestion that the applicant's political ties have played a role in the handling of the charter request. World Liberty Financial first submitted its application for a federal crypto trust charter earlier this year, a move that would allow it to operate as a federally chartered trust bank focused on digital assets.
Democratic scrutiny
Democrats in Congress have been pressing the OCC for details on the review process. In letters and public statements, they've pointed to the Trump family's involvement as a potential source of political interference. Gould's denial appears aimed at heading off that narrative, but the issue is far from settled. Several Democratic lawmakers have requested internal communications and records related to the application, and some have called for an independent ethics review.
What's at stake
The crypto trust charter is a relatively new regulatory tool that lets firms offer custody, trading, and other trust services for digital assets under a federal banking license. For World Liberty Financial, getting the charter would be a major milestone — it would grant access to the U.S. banking system and a federal seal of approval. For the OCC, the decision is a high-profile test of its independence. The agency has already faced criticism from both parties over its handling of crypto regulation, and this case adds a political dimension that Gould can't easily brush aside.
The OCC hasn't said when it will rule on the application. The review is ongoing, and the pressure from Capitol Hill isn't likely to let up anytime soon.
