Another big move by the Trump family’s crypto project World Liberty Financial (WLFI)! The company has officially announced that its General Counsel, Mack McCain, has had his responsibilities expanded further. He has been promoted to Chief Legal Officer and Chief Administrative Officer of WLFI and all of its affiliated entities, and he will also serve as the Chief Trust Officer of the World Liberty Trust Co., N.A., which is currently being established.
Judging from his background, Mack McCain has spent more than a decade focused on the intersection of financial services, technology, and regulation. Previously, he served as Chief of Staff to the Chief Legal, Compliance, and Corporate Affairs Officer at Robinhood, as well as Deputy General Counsel for regulatory affairs. He has also been General Counsel at Arta Finance, and held senior legal roles at Charles Schwab and Scottrade—his credentials are quite solid.
In his expanded new role, he will oversee the full legal strategy, corporate management, and governance of the entire World Liberty ecosystem. As Chief Trust Officer, he will also lead the development and operation of the trust and fiduciary governance framework for World Liberty Trust Company under OCC (the Office of the Comptroller of the Currency) supervision. Notably, the OCC granted a conditional preliminary approval to WLFI’s application for a national trust charter on August 14.
From setting up the trust company to moving the OCC charter forward, WLFI is step by step building a compliance framework at a level typical of traditional finance. Appointing a legal veteran with both Wall Street and internet-brokerage backgrounds at the helm reflects not only a high level of attention to regulatory compliance, but also its ambitions to deeply integrate with the traditional financial system. Next, it remains to be seen how this “Trump-linked” piece will pick up speed within the regulatory framework.
#WLFI#Web3compliance#Trumpcrypto
Judging from his background, Mack McCain has spent more than a decade focused on the intersection of financial services, technology, and regulation. Previously, he served as Chief of Staff to the Chief Legal, Compliance, and Corporate Affairs Officer at Robinhood, as well as Deputy General Counsel for regulatory affairs. He has also been General Counsel at Arta Finance, and held senior legal roles at Charles Schwab and Scottrade—his credentials are quite solid.
In his expanded new role, he will oversee the full legal strategy, corporate management, and governance of the entire World Liberty ecosystem. As Chief Trust Officer, he will also lead the development and operation of the trust and fiduciary governance framework for World Liberty Trust Company under OCC (the Office of the Comptroller of the Currency) supervision. Notably, the OCC granted a conditional preliminary approval to WLFI’s application for a national trust charter on August 14.
From setting up the trust company to moving the OCC charter forward, WLFI is step by step building a compliance framework at a level typical of traditional finance. Appointing a legal veteran with both Wall Street and internet-brokerage backgrounds at the helm reflects not only a high level of attention to regulatory compliance, but also its ambitions to deeply integrate with the traditional financial system. Next, it remains to be seen how this “Trump-linked” piece will pick up speed within the regulatory framework.
#WLFI#Web3compliance#Trumpcrypto