US crypto industry rebuts Warren's claim on bank charters

The U.S. crypto industry is pushing back against claims by Democratic Senator Elizabeth Warren, a noted crypto opponent, that trust bank charters for firms like Coinbase and Ripple may be illegal, Decrypt reported. In a letter to the Office of the Comptroller of the Currency (OCC), The Digital Chamber urged the agency to approve national trust bank charters for crypto companies. The move counters Warren's earlier criticism that such charters could violate banking laws and create systemic risk. The industry argues the charters are legal, citing the GENIUS Act as justification.