A banking lobby group hailing from the US is looking to take legal action against the Office of the Comptroller of the Currency over the agency permitting national trust bank charters to crypto companies. An unknown source close to the lobby’s thinking has informed The Guardian that the Bank Policy
Morgan Stanley has applied for a de novo national trust bank charter with the Office of the Comptroller of the Currency (OCC), signaling a deeper push into digital asset services. The application, filed under the name “Morgan Stanley Digital Trust, National Association,” would allow the firm to custody cryptocurrencies and
The OCC has proposed rules to implement the GENIUS Act, and aksing the public feedback for the proposal within 60 days of publication, as the move is aimed to support innovation while ensuring safety in the growing stablecoin market. Firstly, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS)
The American Bankers Association has filed a letter to the Office of the Comptroller of the Currency. The letter has requested a slowdown on the approval of cryptocurrency trust bank charters. According to the American Bankers Association, the regulators should wait for greater clarity to emerge on the procedures of
World Liberty Financial, a cryptocurrency company with strong ties to the current President of the United States, Donald Trump, has also reportedly applied for a national trust bank charter with the OCC (Office of the Comptroller of the Currency) in the United States. The proposed charter is expected to pave
In a major policy shift, the Office of the Comptroller of the Currency (OCC) has officially confirmed that national banks in the U.S. can buy, sell, and manage crypto assets under their custody. Even more significantly, they are now permitted to outsource crypto custody and execution services to third-party providers.
The U.S. Office of the Comptroller of the Currency (OCC) has recorded a strategic move in recent times in decision making. Banks can now engage in certain crypto activities—without waiting for a green light from regulators. This marks a significant policy shift, reversing earlier rules set under the Biden administration.
Federal bank regulatory authorities in the United States have released a statement on the risks of cryptocurrencies to banking organizations. On Jan. 3, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) issued a joint statement regarding the challenges that
