The Digital Chamber, a cryptocurrency advocacy group, has challenged Massachusetts Senator Elizabeth Warren's legal interpretation regarding the issuance of bank licenses to crypto companies. In a letter to Jonathan Gould, head of the U.S. Office of the Comptroller of the Currency (OCC), organization leader Cody Carbone refuted the senator's claims, as reported by Cointelegraph.com .
Previously, Elizabeth Warren suggested that the OCC may have violated the law by granting national trust charters to nine crypto companies, including giants such as Coinbase, Ripple, and Circle. The senator believes these companies intend to deviate from the narrow scope of activities permitted by law.
Cody Carbone dismissed these accusations as baseless. He emphasized that instead of evading federal oversight, these companies voluntarily agreed to undergo OCC examinations and fulfill all compliance obligations, which indicates they do not pose a threat to the safety of the banking system.
Senator Warren also hinted at White House influence in the granting of these licenses. She is concerned that Donald Trump's ties to the crypto industry could lead to conflicts of interest. Currently, the OCC is reviewing applications from World Liberty Financial, supported by Donald Trump's family, and Payward, the parent company of the Kraken exchange.
Representatives of The Digital Chamber insist that the OCC should not abandon its legal decisions under political pressure. Currently, a total of 14 digital asset companies have applied for licenses, a process that is significant for the U.S. economy and the crypto market.
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