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
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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), BitGo, and Fidelity Digital Asset Services.
“These companies are effectively crypto banks that want to evade the fundamental safeguards and obligations that come with being a bank,” Warren wrote.
