OCC Grants Crypto.com Conditional Approval for National Bank Trust Charter

Crypto.com announced on Monday that it has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to obtain a national bank trust charter. Once fully approved, this will allow the cryptocurrency exchange to operate as a custodian across the US under OCC oversight. Crypto.com CEO Kris Marszalek stated this approval reflects the company's commitment to compliance and security. This follows similar conditional approvals granted to other firms like Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. However, the American Bankers Association has urged the OCC to delay new digital asset-related trust charters until the framework for the GENIUS Act stablecoin bill is fully implemented, emphasizing the need for robust safety standards. Nationally chartered companies may gain exemptions from most state licensing requirements.

(Source：Cointelegraph)