Trump's Crypto Company Gets Approval to Run Bank Amid Regulatory Concerns

A company founded by former US President Donald Trump has received approval from Montana's banking regulators to operate as a bank, despite concerns about its ties to cryptocurrency and potential risks to financial stability.

Trump's Digital Trading Group (DTG) will offer traditional banking services, including loans and deposit accounts, in addition to its existing crypto-focused business. The company had been denied approval by the Office of the Comptroller of the Currency (OCC), which cited concerns about DTG's ability to manage risk.

However, Montana's banking regulators have now granted DTG a charter, allowing it to operate as a state-chartered bank. The decision has raised eyebrows among some experts, who warn that DTG's crypto ties could pose risks to the financial system.