Crypto industry pushes back against Senator Warren's questions, asserting the legitimacy of OCC trust charters

Odaily Planet Daily News The crypto industry group The Digital Chamber has sent a letter in response to Senator Elizabeth Warren's questions regarding the recent approval of OCC national trust charters, stating that her claims about crypto companies receiving "improper approvals" are unfounded.

Previously, Warren sent a letter to the Office of the Comptroller of the Currency (OCC) stating that recent approvals granted to digital asset companies such as Ripple, Circle, Paxos, Fidelity, BitGo, and Coinbase may violate the National Bank Act and fail to adhere to the same regulatory standards as traditional banks.

The Digital Chamber, however, stated that the OCC has the authority to grant national trust charters to eligible institutions, and that such arrangements do not equate to relaxed regulation. The group, representing over 250 crypto-related entities, believes these charters help integrate digital asset services into a clearer federal regulatory framework.