Elizabeth Warren Challenges OCC Over 9 Crypto Trust Charters for Coinbase and Ripple (May 18, 2026)

On May 18, 2026, Sen. Elizabeth Warren sent a letter to OCC Comptroller Jonathan Gould alleging the agency unlawfully issued at least nine national trust charters to crypto firms, including Coinbase and Ripple. She argued the approvals permit activities such as staking, lending, trading, and stablecoin issuance beyond what the National Bank Act allows for trust companies, and set a June 1, 2026 deadline for the OCC to provide complete records.