• OCC grants Crypto.com conditional approval for bank trust charter While Coinbase and others await decision on their applications, the federal banks regulator has already signaled friendliness to crypto companies through several conditional approvals. • Cointelegraph in your social feed Crypto.com said Monday that it has secured conditional approval for a national bank trust charter from the US Office of the Comptroller of the Currency (OCC). • In a Monday statement, the cryptocurrency exchangesaidthat once fully approved as a federally regulated institution, it would be established to operate as a custodian across the US, subject to OCC oversight. • The companysubmitted its applicationin October, saying at the time that it planned to provide custody services for digital asset treasuries, exchange-traded funds, and others. • “This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com,” said Crypto.com co-founder and CEO Kris Marszalek. • The approval came about two months after the OCCconditionally approved five national bank charter applicationsfor Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos, marking a significant policy step for the US regulator.
Article Summaries:
- Crypto.com announced that the U.S. Office of the Comptroller of the Currency (OCC) has granted it conditional approval to obtain a national bank trust charter. The approval, received after the company’s October application, allows Crypto.com to operate as a federally regulated custodian for digital‑asset treasuries, ETFs and other products once fully approved. The move follows similar conditional approvals for Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos, marking a broader regulatory shift toward crypto‑related trust banks. The American Bankers Association has urged the OCC to delay new trust‑bank charters until the GENIUS Act’s stable‑coin framework is fully implemented.
Sources: