U.S. Regulator Supports Digital Asset Trust Charters Amid Banking Hesitancy
- The Office of the Comptroller of the Currency (OCC) reported a rise to 14 applicants for trust bank charters in the past year, many focusing on digital assets.
- Jonathan Gould, OCC chief, emphasized that there is no justification for treating digital assets differently from traditional banking services.
- Erebor became the first crypto bank to receive a provisional charter under Gould’s leadership last month.
- Gould noted that existing national banks are actively developing innovative products related to digital assets.
- The OCC and Federal Deposit Insurance Corp. are working on rules to address “reputation risk” in supervision regulations.
Gould’s remarks at a recent policy summit highlight the OCC’s commitment to supporting innovation in banking, particularly concerning digital assets. The agency is also reviewing practices where banks sever services for crypto businesses and executives.
With the recent increase in applicants and the granting of new charters, the OCC aims to foster an environment conducive to decentralized finance advancements.(Source)
