U.S. Senator Warren questioned the compliance of U.S. regulators in issuing trust licenses to several crypto companies.

CoinFeed reported on May 19th, citing Bloomberg, that U.S. Senator Elizabeth Warren wrote to Jonathan Gould, Comptroller of the Currency (OCC), questioning the OCC's decision to approve national trust licenses for at least nine crypto companies. She pointed out that these companies were engaged in activities "far beyond the narrow scope of legally permitted activities," potentially violating the National Bank Act. Warren requested the OCC to explain the basis for its approvals and why it allowed "seemingly ineligible" crypto businesses to enter the banking system through trust licenses.