Coinbase gains final OCC approval for national trust, lawmakers seek regulator records

Federal regulators have expanded pathways for cryptocurrency companies to operate within US oversight, but members of Congress are pressing for greater transparency into how these permissions are granted. Lawmakers are now requesting records to examine regulators’ justification for issuing new trust charters and to scrutinize the compliance strategies of involved crypto firms, especially those with connections to the administration of US President Donald Trump. On November 9, Coinbase, a leading US-based cryptocurrency exchange, revealed that its national trust company had received final approval to commence operations. The Office of the Comptroller of the Currency (OCC), an independent bureau of the US Treasury responsible for regulating and supervising national banks and federal savings institutions, had initially issued preliminary conditional approval for the charter in April.

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