The Office of the Comptroller of the Currency has given final approval to Coinbase’s national trust company, following a conditional authorization received in April. The charter is intended to provide Coinbase’s cryptocurrency custody business with a clearer federal framework and more defined regulatory requirements. Senator Elizabeth Warren has requested records on at least nine approved companies, as well as communications between the OCC, the White House and members of the Trump family, over concerns that trust structures may enable activities resembling banking without equivalent safeguards. Senator Richard Blumenthal also demanded documents from Binance, Tether and two ventures linked to Donald Trump by January 4, 2027. These efforts reflect growing congressional scrutiny of cryptocurrency companies’ compliance practices and possible ties to political power.
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