Citing Cryptofrontnews, the U.S. Office of the Comptroller of the Currency (OCC) granted conditional national trust bank charters to five digital asset firms: Circle, Ripple, BitGo, Paxos, and Fidelity Digital Assets. The move places stablecoin issuers and custodians under federal oversight, focusing on custody and fiduciary services. The approvals include two new national trust banks and three charter conversions, with firms required to meet operational and compliance standards before final approval. The decision reflects a policy shift under Comptroller Jonathan V. Gould, who emphasized support for innovative financial services and deeper regulatory integration. Ripple, Circle, and others welcomed the move, citing enhanced oversight and institutional support.
OCC Grants Conditional Trust Bank Charters to Five Crypto Firms
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Summary
The U.S. Office of the Comptroller of the Currency (OCC) granted conditional national trust bank charters to five digital asset firms: Circle, Ripple, BitGo, Paxos, and Fidelity Digital Assets. The move brings stablecoin issuers and custodians under federal **digital asset regulation**, focusing on custody and fiduciary services. The approvals include two new national trust banks and three charter conversions, with firms required to meet **crypto compliance** and operational standards before final approval. Comptroller Jonathan V. Gould emphasized support for innovative financial services and deeper regulatory integration. Ripple, Circle, and others welcomed the move, citing enhanced oversight and institutional support.
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