Trump-Linked Crypto Firm Gets Approval to Run National Bank

The Office of the Comptroller of the Currency (OCC) has granted approval to Digital World Acquisition Group, a company affiliated with former US President Donald Trump's venture into cryptocurrencies. This decision allows Digital World to operate a national bank.

The move has sparked controversy due to concerns over potential conflicts of interest and the lack of experience in traditional banking among Digital World's executives. Critics argue that this could lead to regulatory risks and undermine trust in the financial system.

The OCC stated that it had reviewed the application and deemed Digital World fit to operate a bank, but some experts question the thoroughness of the review process.