Warren Targets OCC Over Crypto Bank Charters as 9 Firms Face Regulatory Firestorm

Key Takeaways:

• Senator Elizabeth Warren criticized the OCC’s failure to implement typical banking practices in the crypto space.
• Since the end of 2025, the OCC is reportedly giving at least 9 crypto companies national trust charters.
• The approvals have the potential to introduce greater risks to consumers and the U.S. banking system that would stem from cryptocurrency custody, lending and stablecoins, according to Warren.

Elizabeth Warren is calling it a day in the crypto these are the excuses phase. Elizabeth Warren takes her battle to spread crypto in U.S. banking to a whole new level. The Massachusetts senator, in a new letter to the Office of the Comptroller of the Currency’s Jonathan Gould, asked how the office is justifying the granting of crypto companies multiple national trust charters, which could be issued in situations where the companies are likely violating the intent of federal banking law.

The letter puts new pressure on regulators as crypto companies expand their foray into the payment sector and into holding cryptocurrency and into stablecoi...