Senator Elizabeth Warren’s recent salvo over the Office of the Comptroller of the Currency’s (OCC) approvals of national trust bank charters for crypto firms has prompted a direct rebuttal from the industry. The Digital Chamber (TDC) pushed back in a letter to OCC Comptroller Jonathan Gould after Warren questioned whether some charter recipients were eligible. Warren — who, according to reporting from Bitcoinist, said the OCC had approved at least nine national trust charters for crypto companies that “appear to go far beyond the narrow set of activities permitted by law” — even suggested the approvals might constitute an “apparent violation of the National Bank Act.” TDC’s response takes a very different view. The industry group argues the OCC’s charter approvals were lawful, carefully supervised, and designed to bring digital-asset activities into the federal prudential framework rather than place them outside banking rules. TDC says each applicant underwent a rigorous OCC review and met statutory and regulatory requirements before receiving either full or conditional approvals. According to the group, the firms demonstrated that their proposed activities fit within activities permitted for national trust banks. On the legality question, TDC rejects Warren’s characterization that the OCC’s actions violate the National Bank Act, calling that interpretation a misunderstanding of both the statute and the OCC’s long-established chartering authority. The letter frames the chartering decisions as “a legally sound and long-overdue step” toward integrating crypto services into federal oversight focused on safety and soundness. TDC closed by offering to collaborate with the OCC, Congress, and other stakeholders to help build a legally durable and effective federal framework for digital assets. The group argues that OCC-chartered crypto banks should not be seen as threats to the banking system, but rather as regulated federal entities that could help create a more inclusive and competitive financial system. What’s next: the exchange underscores a persistent tension between lawmakers pressing for tighter limits on crypto banking activity and industry advocates who view federal charters as the route to clearer oversight. Expect ongoing scrutiny from Congress and continued industry advocacy as the OCC’s approach to digital-asset chartering evolves. Read more AI-generated news on: undefined/news