Senator Warren Questions OCC Head on Approval of ‘Ineligible’ Crypto Trust Charters

Senator Elizabeth Warren has accused the Office of the Comptroller of the Currency (OCC) of violating banking laws by approving national trust charters for cryptocurrency companies. In a letter to OCC head Jonathan Gould, Warren stated that the OCC approved at least nine charters for crypto firms engaging in activities beyond legal limits, potentially violating the National Bank Act. She requested full applications and communications related to these approvals, including those for Coinbase, Crypto.com, Ripple, and others. Warren argued these companies seek to evade banking safeguards and that the OCC's actions facilitate regulatory arbitrage, risking consumers and the banking system. She also criticized lawmakers and regulators for supporting policies with potential conflicts of interest related to crypto and Trump's ties, urging the delay of a charter for World Liberty Financial. The article also notes that Kraken's parent company, Payward, applied for a national trust charter to provide custody services for digital assets.

(Source：Cointelegraph)