US Banks Warn OCC Crypto Charters Could Weaken The Banking System

The US banking industry has mounted a coordinated challenge to the Office of the Comptroller of the Currency’s (OCC) approach. The pushback targets the regulator’s efforts to integrate cryptocurrency firms into the federal banking system. On December 12, OCC issued conditional approval of national trust charters for five digital asset firms, including Ripple, Fidelity, Paxos, First National Digital Currency Bank, and BitGo. The bank regulator stressed that the crypto applicants underwent the same “rigorous review” as any national bank charter applicant source: https://beincrypto.com/us-banks-blast-occs-charters-for-crypto-firms/