Elizabeth Warren Questions 'Effective Crypto Banks' By Coinbase, Ripple, Paxos
Warren says the firms are avoiding full bank oversight while taking on custodial, payments and lending activities, and she seeks OCC records on Trump-family contacts.
- On Tuesday, Senator Elizabeth Warren questioned the Office of the Comptroller of the Currency over its decision to let nine crypto firms operate as trust banks without proper safeguards.
- The OCC has been granting these trust charters as part of President Donald Trump's agenda to elevate the crypto sector and establish a friendly regulatory environment.
- Companies including Coinbase, Paxos, Ripple, BitGo, and Fidelity Digital Asset Services are "effectively crypto banks" that evade fundamental safeguards, Warren wrote.
- In her letter to OCC chief Jonathan Gould, Warren demanded records of communications between the agency and President Trump regarding World Liberty Financial Inc.
- While the OCC offered no immediate comment, the inquiry marks an escalation in the Senate Banking Committee's ongoing scrutiny of crypto's integration into traditional banking.
15 Articles
15 Articles
Senator Elizabeth Warren accuses U.S. regulator of approving ...
Elizabeth Warren Questions 'Effective Crypto Banks' By Coinbase, Ripple, Paxos
Senator Elizabeth Warren (D-Mass.) on Tuesday questioned the Office of the Comptroller of the Currency letting nine crypto firms operate as banks without proper safeguards. Warren Questions OCC Approval Of Nine Crypto Trust Charters Warren, the ranking Democrat on the Senate Banking Committee, sent a letter to OCC chief Jonathan Gould questioning approvals for trusts belonging to Coinbase Global Inc. (NASDAQ:COIN), Paxos, Ripple (CRYPTO: XRP), B…
Elizabeth Warren leads fresh probe into Trump admin's OCC after crypto approvals
Senator Elizabeth Warren is challenging the Trump administration and “big tech” once again, this time accusing crypto companies like Stripe and Coinbase of bypassing the requirements needed to offer banking services. Senator Warren is investigating the nine trust charters that have been approved for crypto companies since December 2025. She wrote a letter demanding records of communication between the Trump family and the Office of the Comptrol…
Senator Warren Accuses OCC of Approving Unqualified Crypto Banks in New Letter to Regulator
TL;DR Senator Elizabeth Warren challenged the OCC’s approval process for several crypto-focused trust banks linked to custody and stablecoin services. Warren argued that these firms are operating like banks without meeting the same regulatory standards applied to traditional financial institutions. The criticism arrives as U.S. regulators continue adopting a more crypto-friendly approach under President Donald Trump’s administration, increasing…
XRP Slides Below $1.40 as Smart Money Exits, ETP Inflows Reach $67.6M, Warren Targets Trust Charters
XRP News Senator Elizabeth Warren has escalated her campaign against the Office of the Comptroller of the Currency, arguing that nine national trust bank charters granted to crypto-focused firms, i...
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