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Senator Warren Challenges OCC's Approval of 9 Crypto Trust Charters, Citing Potential National Bank Act Violation

GateNews

Regulation & Policy

2026-05-19 11:14:30

According to Bloomberg, Senator Elizabeth Warren recently challenged the Office of the Comptroller of the Currency (OCC) over its decision to grant national trust charters to crypto companies. In a letter to OCC head Jonathan Gould, the Massachusetts Democrat stated that the regulator has approved at least 9 national trust charters to cryptocurrency firms that "appear unqualified." Warren argued the charters "appear to far exceed the narrow scope of activities permitted by law" and constitute an apparent violation of the National Bank Act. She called for the OCC to clarify the legal basis for these approvals.

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