bank charters

Policy Regula

2026-10-05 19:27:41

ICBA challenges OCC over crypto bank charters as CCI backs the regulator

The Independent Community Bankers of America, or ICBA, has accused the Office of the Comptroller of the Currency (OCC) of lacking adequate regulatory safeguards when granting bank charters to crypto companies. On the other side, crypto lobbying group CCI voiced support for the OCC and said the lawsuit is aimed at choking off financial innovation. The dispute puts a regulatory question around how crypto firms may seek banking access and how far federal oversight should extend when such charters are issued. The brief exchange of claims highlights a split between traditional banking interests and crypto advocates over the OCC’s role.

610

Policy and Re

2026-09-08 10:42:18

Global Payments Weekly W36: 21 Institutions Back Stablecoin Venture as OCC Issues Two Preliminary Bank Approvals

The global payments sector saw several major shifts during the week of Aug. 31 to Sept. 6, with stablecoins, bank charters, cross-border settlement rails and dealmaking all moving at once. A group of 21 financial institutions, including 17 global systemically important banks, said they would form a joint stablecoin company in the second half of 2026 and issue a U.S. dollar stablecoin in the first half of 2027, with a euro version to follow. In the U.S., the Office of the Comptroller of the Currency granted conditional preliminary approval on the same day to Revolut and Andreessen Horowitz-backed OpenReserve, and both outlined plans tied to issuing or distributing stablecoins. Bloomberg also reported that total stablecoin supply has fallen by roughly $15 billion from its mid-May peak, even as capital keeps flowing into payment and banking infrastructure. Elsewhere, Citi, FAB, OCBC and DBS completed live transactions on Swift’s blockchain-based shared ledger, including a weekend tokenized deposit payment from Singapore to New York that settled in minutes. The week’s developments pointed to a market where public-chain stablecoins, bank-led stablecoins and tokenized deposits are all competing for a larger role in payments and settlement.

2110

OCC

2026-08-12 17:05:06

OCC says new bank charters are back on the table as crypto firms seek federal approval

The U.S. Office of the Comptroller of the Currency said it will keep pushing to revive de novo bank chartering, describing new-bank formation as a priority and pointing to a fresh flow of applications after years of decline. The agency said it has received 40 de novo applications over the last 18 months and, in many cases, has made decisions within 120 days after receiving a complete filing. The shift matters for crypto. The OCC said entities engaged in legally permissible activities, including digital asset businesses, should have a path to becoming national banks. Ripple, Circle, Crypto.com and Paxos have already received conditional approval, while Coinbase remains under review. The structure would allow firms to hold client assets and handle trade settlement inside a federally regulated framework. The move has drawn pushback from traditional banking groups. The Independent Community Bankers of America urged the OCC to reject Coinbase’s national trust bank application, and the American Bankers Association asked the regulator to slow its review of crypto charter bids. According to the report, one major point of friction is stablecoins, with banks arguing that token-based rewards could weaken their deposit base.

1810