The OCC, which charters and supervises national banks and trust institutions, has approved multiple crypto-related trust charters since late 2025. Warren specifically cited a March 2026 chartering rule as potentially expanding the agency's authority beyond statutory limits. The precise scope of activities each charter permits and the OCC's formal response remain undisclosed.
Attorneys should monitor this dispute closely. A successful challenge could slow or redirect how crypto firms access the federal banking system, potentially forcing them toward alternative regulatory pathways. The underlying question—whether trust-bank authority encompasses full-service crypto operations—will likely shape OCC guidance and may draw congressional scrutiny or legislative action. Firms holding or seeking these charters face uncertainty about the durability of their federal charter status.