PANews reported on May 27th that, according to The Block, the crypto industry organization "Digital Chamber of Commerce" sent a letter to the Office of the Comptroller of the Currency (OCC) refuting Senator Elizabeth Warren's allegations that crypto companies such as Ripple and Coinbase "improperly" obtained national trust licenses. Warren wrote to the OCC last week stating that the approvals granted to digital asset companies such as Ripple, Circle, Paxos, Fidelity, BitGo, and Coinbase violated the National Bank Act and did not adhere to the same standards as traditional banks. Digital Chamber of Commerce CEO Cody Carbone stated that Warren's characterization of the approvals misinterprets the law and the OCC's long-standing licensing authority. Carbone pointed out that Congress passed the GENIUS Act with an overwhelming bipartisan majority, creating a new category for federally regulated stablecoin issuers, and it would be highly illogical for the OCC to abandon its licensing authority at this time.