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Coinbase\u2019s trust company received final clearance as lawmakers seek records on crypto firms\u2019 compliance and potential conflicts of interest.<\/p>\n
Federal regulators are opening more avenues for crypto companies to operate under US rules, while congressional investigators are asking to see the records behind those decisions. Lawmakers want to know how regulators justified new trust charters, how crypto companies handled compliance and what dealings they had with people tied to President Donald Trump\u2019s administration.<\/p>\n
On Nov. 9, Coinbase announced that its national trust company had received final app<\/a>roval to open. The Office of the Comptroller of the Currency granted preliminary conditional approval in April. The company said the charter gives its custody business a consistent federal framework.<\/p>\n Lawmakers had been questioning how federal regulators were using their existing authority to expand crypto companies\u2019 reach. In a May 18 letter to the OCC, Sen. Elizabeth Warren challenged at least nine crypto trust-charter approvals, including Coinbase\u2019s earlier conditional approval. She asked for the applications, the legal analyses behind the approvals and any related communications between OCC officials and the White House or Trump family.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n