TheBlock
The Digital Chamber, a crypto industry group representing more than 250 entities, pushed back Tuesday against Sen. Elizabeth Warren's claim that OCC national trust charters granted to Ripple, Coinbase, Circle, Paxos, BitGo, and Fidelity Digital Assets were unlawful. In a letter to Comptroller Jonathan Gould, TDC CEO Cody Carbone said Warren's characterization of the approvals as "apparent violations" of the National Bank Act "misreads both the statute and the OCC's longstanding charter authority."
Warren argued last week that the charter approvals violated the National Bank Act and that the firms aren't held to the same standards as traditional banks. She also suggested the applications were organized in response to the GENIUS Act — the sweeping stablecoin legislation passed last summer — and that the new law doesn't override the National Bank Act.
CoinDesk
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