Senator Elizabeth Warren has criticized the Office of the Comptroller of the Currency (OCC) for allegedly overstepping its authority by approving national trust bank charters for crypto firms. In a letter to OCC Comptroller Jonathan Gould, Warren claims that the agency has approved at least nine trust charters, some conditionally, which she argues exceed the legal activities permitted under the National Bank Act. These charters allow firms to custody and hold assets, potentially speeding up payment settlements. Warren's concerns extend to the possibility of crypto companies offering bank-like services such as lending and payments without adhering to the regulatory framework governing traditional banks. She warns that this could undermine consumer protection and financial stability. The OCC, however, defends its policy, asserting that integrating new entrants into the federal banking system can enhance competition and innovation. This dispute underscores a significant regulatory debate over the use of federal banking charters for crypto firms and could influence the pace at which these companies expand into broader financial services. The outcome may prompt further clarification from Congress or the courts regarding charter rules.