Coinbase Wins Trust Charter as Congress Seeks Records
Coinbase received final clearance for its national trust company as lawmakers press regulators and crypto firms for records.
Key takeaways
- Coinbase said its national trust company received final approval to open on Nov. 9.
- Sen. Richard Blumenthal set a Jan. 4, 2027, deadline for records from Binance, Tether and two Trump-linked ventures.
Coinbase said its national trust company received final approval to open on Nov. 9, advancing its bid to operate under a federal charter. The Office of the Comptroller of the Currency had granted preliminary conditional approval in April.
The approval comes as lawmakers scrutinize how regulators handle crypto trust charters and how firms manage compliance. In May, Sen. Elizabeth Warren asked the OCC for applications, legal analyses and communications related to at least nine approvals, including Coinbase’s earlier conditional approval.
Sen. Richard Blumenthal also renewed demands for records from Binance, Tether and two Trump-linked ventures. He gave them until Jan. 4, 2027, to provide the records voluntarily and said his subcommittee could take other steps to obtain them.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
