Senator Warns of Risks from Cryptocurrency Company Charters

The Office of the Comptroller of the Currency (OCC) has come under scrutiny for its handling of national trust charters for cryptocurrency companies.

US Senator Elizabeth Warren has written to the OCC, expressing concerns that these companies plan to engage in activities beyond their intended scope.

The senator believes that this could lead to a weakening of consumer protections and create regulatory arbitrage risks.

At least nine companies have received or conditionally approved charters since December 2025, including Ripple, Circle, Paxos, Fidelity, BitGo, Coinbase, Stripe's subsidiary Bridge, and Crypto.com.