U.S. regulators are expanding access to federal banking frameworks for cryptocurrency companies even as lawmakers intensify scrutiny of the approvals and the firms receiving them.
Coinbase said on November 9 2026 that its national trust company had received final regulatory approval to begin operations, following conditional approval from the Office of the Comptroller of the Currency (OCC) in April 2026.
The charter provides Coinbase’s custody business with a federal regulatory framework.
However, the approvals are facing congressional scrutiny. Senator Elizabeth Warren questioned at least nine crypto trust-charter approvals in a May 18 2026 letter to the OCC, requesting application records, legal justifications, and communications between regulators, the White House and Trump family members.
REGULATION | Community Banks Sue U.S. Regulator Over Crypto Trust Bank Charters
Separately, Senator Richard Blumenthal has renewed demands for records from Binance, Tether, and two Trump-linked crypto ventures, giving the companies until January 4 2027, to voluntarily provide the requested information.
The developments highlight growing tension between U.S. regulators’ efforts to integrate crypto companies into the traditional financial system and lawmakers’ demands for greater oversight of regulatory decisions, compliance standards, and potential conflicts of interest.
REGULATION | U.S. Banking Lobby Weighs Lawsuit Against OCC Over Crypto Trust Charters
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