Coinbase announced on Nov. 9 that its national trust company had received final approval to open, following preliminary conditional approval from the Office of the Comptroller of the Currency in April. Coinbase said the charter gives its custody business a consistent federal framework.
Lawmakers are seeking records behind regulators’ crypto trust-charter decisions. Sen. Elizabeth Warren challenged at least nine approvals in a May 18 letter to the OCC and requested applications, legal analyses and communications involving OCC officials and the White House or Trump family. Sen. Richard Blumenthal also renewed requests for records from Binance, Tether and two Trump-linked ventures, giving them until Jan. 4, 2027, to respond voluntarily and warning that his subcommittee could take other steps to obtain them.
