Jonathan Gould, the Comptroller of the Currency, sat before the House Financial Services Committee on June 4 and did something unusual for a banking regulator: he went on offense. The target of his frustration was Democratic lawmakers who, in his telling, are the only source of political pressure he faces in reviewing World Liberty Financial’s application for a national trust bank charter.
Gould openly questioned whether Democrats view him as a “Trump fixer” over the charter review, pushing back against accusations that the OCC is giving preferential treatment to a crypto firm with ties to the Trump family.
What World Liberty Financial actually wants
World Liberty Financial submitted its application for a national trust bank charter back in January 2026. The goal is straightforward on paper: the charter would allow the firm to issue the USD1 stablecoin, manage reserves backing that stablecoin, and provide custodial services for digital assets.
The application didn’t arrive in a vacuum. Since late 2025, the OCC has conditionally approved at least nine national trust charters for crypto entities. Sen. Elizabeth Warren and Rep. Gregory Meeks have both raised pointed questions about whether these approvals comply with the National Bank Act.
