Trump-Backed Crypto Firm Wins Conditional Approval for Federal Bank Charter

A U.S. federal banking agency has granted World Liberty Financial conditional approval to establish a national trust bank, allowing it to directly issue and safeguard its dollar-backed stablecoin.

The Office of the Comptroller of the Currency (OCC) made this decision on August 14, 2026, for World Liberty, which was co-founded by President Donald Trump and his sons in 2024. The conditional charter is a historic regulatory milestone, but it has sparked controversy due to potential conflicts of interest.

The OCC mandated several conditions for final approval, including maintaining $20 million in unimpaired capital, appointing an internal audit manager, and providing advance notice before making material changes. The Trump family also signed a passive investor agreement agreeing not to directly influence bank management or operations.

Critics argue that allowing presidential appointees to regulate a financial institution with ties to the President creates inherent conflicts of interest. Public watchdogs, legal scholars, and Congressional Democrats have expressed concerns about national security risks due to foreign sovereign capital involvement in the business.