The Digital Chamber sent a letter to Comptroller of the Currency Jonathan Gould on Tuesday, challenging Senator Elizabeth Warren’s criticism of how the Office of the Comptroller of the Currency (OCC) has handled national trust bank charters for digital asset firms.
Industry letter challenges Warren’s critique
The trade association, which represents blockchain and digital asset companies, pushed back on Warren’s recent claims regarding the OCC’s approach to chartering digital asset-focused national trust banks. While the letter’s full contents were not immediately available, the move marks a direct response from the crypto industry to heightened scrutiny from Capitol Hill.
OCC’s role and national trust bank charters
The OCC charters, regulates, and supervises national banks and federal savings associations. A national trust bank charter is a limited-purpose charter that allows institutions to offer fiduciary and custody services under federal oversight. In recent years, digital asset firms have sought such charters to provide regulated custody and related services, bringing certain crypto activities under a national supervisory framework.
Wider policy debate
Senator Warren has been a prominent critic of the digital asset sector, urging tougher safeguards to address risks tied to consumer protection, illicit finance, and financial stability. Industry groups, including The Digital Chamber, have advocated for clear, risk-based federal rules to govern digital asset activities within the banking system. The exchange underscores an ongoing policy debate in Washington over how crypto firms should access and operate within the U.S. financial regulatory perimeter.