Elizabeth Warren is expected to chair the Senate Banking Committee in January, giving her greater influence over hearings and document requests concerning the banking and custody activities of crypto companies. She has asked the OCC about the bank charters of nine companies, including Coinbase and Ripple, as well as decisions involving the White House or the president’s family. She is also investigating prediction markets, safeguards against nonpublic information, and potential conflicts of interest involving former administration officials. These inquiries would not require new legislation: they could force executives and regulators to justify their decisions while exposing companies to legal costs, disclosure demands, and heightened scrutiny. Publicly released records could prompt regulators to act under existing law, while continuing to put pressure on crypto businesses and the officials who approved their plans.
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