Trump family crypto company receives approval for conditional banking charter
Summary
A cryptocurrency company partly owned by President Donald Trump’s family got initial conditional approval to operate as a national trust bank. The approval came from the Office of the Comptroller of the Currency, which oversees national banks.Key Facts
- The crypto company is called World Liberty Trust Co.
- It is partially owned by President Trump’s family.
- The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval.
- The approval is for a bank charter, allowing the company to operate as a national trust bank.
- The OCC is the government agency responsible for regulating and supervising national banks in the U.S.
- The approval is conditional, meaning the company must meet certain requirements before final approval.
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