Crypto Industry Pushes Back as Elizabeth Warren Questions Ripples Banking Charter
A new clash has emerged between the crypto industry and Senator Elizabeth Warren over the approval of federal trust bank charters for several major digital asset firms, including Ripple. The debate began after Warren sent a letter to the Office of the Comptroller of the Currency (OCC), raising concerns that recently approved trust charters may not comply with the National Bank Act. Her criticism targeted crypto-focused companies such as Ripple, Circle, Paxos, BitGo, Coinbase, and Fidelity Digital Assets, which have either received conditional approvals or are seeking federally regulated trust bank status. Warren argued that these firms appear to be engaging in activities similar to those of traditional banks without being held to the same regulatory standards. She also questioned whether some companies accelerated their charter applications following the passage of the $GENIUS Act, which established a federal framework for stablecoin issuers. Crypto Industry Defends OCC Decision The crypto sector was quick to respond. Crypto Dyl News highlighted Warren‘s reported request for Ripple to provide confidential documents related to its charter application, arguing that the move came after the OCC had already reached its decision. The post claimed Ripple’s approval marks an important step toward integrating the company and its $XRP ecosystem into the