Industry and policy groups warn that approving a trust charter for Coinbase could introduce systemic risks. Concerns include exposure to crypto market volatility, potential gaps in anti-money laundering enforcement, and the absence of traditional banking safeguards such as capital requirements and deposit insurance.

Organizations like the Americans for Financial Reform Education Fund argue the move departs from established banking law, while banking groups say it reflects a growing trend of nonbank firms seeking regulatory advantages without meeting equivalent compliance obligations.