The Chamber of Digital Commerce fired back at Senator Elizabeth Warren on Tuesday, sending a letter to OCC Comptroller Jonathan Gould urging the agency to stand behind its recent national trust bank charter approvals for crypto firms. Warren had accused the OCC of improperly granting at least nine charters since December 2025, claiming the agency allowed crypto companies to sidestep stricter banking regulations.
What the OCC actually approved
These aren’t full bank charters. The national trust charters the OCC has been granting are a narrower instrument. They permit limited fiduciary activities, meaning the firms can handle custody and trust services, but cannot take deposits or make loans like a traditional bank.
The timeline of approvals tells its own story. Ripple National Trust Bank received its conditional approval on December 12, 2025. Circle’s First National Digital Currency Bank landed its charter on the same day. Coinbase National Trust Company followed on April 2, 2026.
Warren’s letters, dated May 18 and 19, demanded full applications, internal communications, and any records of Trump administration involvement in the approval process. Her deadline: June 1, 2026.
