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Kevin Helms

OCC Trust Charter Dispute Intensifies as Warren Questions Coinbase, Ripple, Bitgo Links

The U.S. Office of the Comptroller of the Currency’s clearance of national trust charters tied to Coinbase, Ripple, Bitgo and other digital-asset firms has widened a regulatory dispute involving Sen. Elizabeth Warren. On May 19, Bitgo CEO Mike Belshe published an open letter arguing that fiduciary custody keeps client assets segregated in bankruptcy-remote accounts and does not involve deposits or lending. He also said stablecoin reserves are held in full and supported by twice-monthly attestations plus quarterly and annual audits.
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