OCC Approves Trump-Tied USD1 Stablecoin Bank Charter

Is this a win for decentralized digital finance or a brazen conflict of interest?

Published 4 hours ago

OCC Approves Trump-Tied USD1 Stablecoin Bank Charter

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Above: Stock photo of the World Liberty Financial logo on a smartphone. Image credit: Timon Schneider/SOPA Images/Getty Images

The Spin

Pro-Trump narrative

Bringing stablecoin issuance under federal bank supervision is exactly what the digital asset industry needs. World Liberty Trust Company earning a preliminary OCC charter means USD1 will operate under the same rigorous standards that have governed banks for generations, making it more trustworthy than loosely regulated alternatives. A federally chartered digital dollar strengthens U.S. dominance in global finance, which is a win worth celebrating.

Zach Witkoff on X FOX News

Anti-Trump narrative

Handing a federal bank charter to a crypto firm that made the sitting president nearly $600 million is a staggering conflict of interest. The OCC — led by a Trump appointee who clearly does the president's bidding — greenlit a venture 38% owned by Trump-affiliated entities, giving it federal credibility and expanded powers that directly enrich the president's family. No amount of career-staff review language can hide the fact that this is a move to boost the boss's personal portfolio.

Mother Jones Common Dreams