Crypto advocacy group challenges Senator Warren's claims on OCC charters

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Source: The Digital Chamber Warren’s concerns stemmed from OCC's approving or conditionally approving charter applications from Coinbase, Crypto.com’s parent company, Ripple, Stripe, BitGo, Circle, Fidelity Digital Assets, Protego Holdings and Paxos. She said that the companies “want to evade the fundamental safeguards and obligations that come with being a bank” and questioned what led to the approvals, implying influence from the White House. As the ranking member of the US Senate Banking Committee, Warren has repeatedly criticized lawmakers and regulators for supporting policies with potential conflicts of interest related to US President Donald Trump’s ties to the crypto industry. Cointelegraph sought comment from Warren’s office but did not receive an immediate response. “If Senator Warren believes the OCC exceeded its authority, the appropriate response is to identify where the statute draws the line she says was crossed,” Carbone said in response to a request for clarification from Cointelegraph. “We'd welcome that debate. But ‘this seems wrong’ from a member of the Banking Committee isn't a legal argument. And the OCC shouldn’t retreat from a legally sound decision because of political pressure, regardless of who’s applying it.” Warren’s concerns about the OCC approvals came as the banking regulator is considering applications from the Trump family-backed crypto business World Liberty Financial as well as Payward, the parent company of cryptocurrency exchange Kraken. Source: OCC Payward said it intended to “provide fiduciary custody and other services primarily for digital assets” if approved. In January, Warren called on Gould to delay consideration of World Liberty’s application until Trump divested from the platform, citing financial conflicts of interest. As of Tuesday, the OCC listed 14 digital asset companies that had submitted licensing applications. Magazine: 50K investors fight Korean crypto tax, Singapore cancels Bsquared: Asia Express More on the subject

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