Crypto Industry Fights Senator Warren's Claim That Coinbase, Ripple Bank Charter Approvals Are Illegal
Key takeaways
- Crypto Industry Fights Senator Warren's Claim That Coinbase, Ripple Bank Charter Approvals Are Illegal Sander Lutz Tue, May 26, 2026 at 9:00 PM GMT+7 2 min read XRP-USD CRCL CRO-USD STRI.PVT Days after Sen.
- She said such a policy shift posed systemic threats to the U.S. banking system.
- National trust companies, which are regulated with less scrutiny than traditional banks, generally offer fiduciary services (manage assets on another’s behalf) but do not accept customer deposits.
Crypto Industry Fights Senator Warren's Claim That Coinbase, Ripple Bank Charter Approvals Are Illegal Sander Lutz Tue, May 26, 2026 at 9:00 PM GMT+7 2 min read XRP-USD CRCL CRO-USD STRI.PVT Days after Sen. Elizabeth Warren said the Treasury Department’s recent spate of bank charter approvals for crypto firms may be illegal, industry leaders are forcefully pushing back on the characterization.
On Tuesday, the Digital Chamber, a top crypto industry trade group, implored the Trump Treasury Department to stand by its recent decision to begin granting national trust bank charters to crypto firms for the first time.
“We strongly encourage the OCC to defend these charter approvals and continue developing clear supervisory expectations for trust banks,” the group said in a letter to Jonathan Gould, the powerful head of the Office of the Comptroller of the Currency (OCC).