OCC's Crypto Trust Charter Approvals Under Fire from Senator Elizabeth Warren

Senator Elizabeth Warren has written a letter to Comptroller Jonathan Gould, expressing concerns about the OCC's approval of national trust charters for at least nine crypto companies.

The senator argues that these firms are acting like banks without following full bank rules, which could expose consumers and the banking system to risks.

Warren has asked the OCC to provide documents related to these approvals by June 1, including full charter applications, legal analyses, and communications between OCC officials and the White House or Trump family members.