Senator Warren Claims OCC’s Approval of Cryptocurrency Firms as National Trust Banks is Illegal

Senator Criticizes OCC, Demands Disclosure

On May 18, Senator Elizabeth Warren, the leading Democrat on the Senate Banking Committee, sent a letter to Jonathan Gould, the Comptroller of the Currency, arguing that the national trust charters granted to nine cryptocurrency-related companies, including Coinbase National Trust Company and Ripple National Trust Bank, might violate the National Bank Act. She has requested the disclosure of all related applications and communications...