OCC Chief Emphasizes Equal Treatment for Crypto Firms
Jonathan Gould, the head of the U.S. Office of the Comptroller of the Currency (OCC), has emphasized the importance of treating crypto firms equally when they apply for national trust bank charters. Speaking at an industry event in Washington, Gould argued that digital‑asset companies should be evaluated using the same criteria as traditional financial institutions.
Charter Applications Landscape
Gould highlighted that the OCC has received around 14 charter applications this year, with several coming from digital‑asset firms. He dismissed concerns from traditional banks about the OCC’s ability to oversee new applicants, pointing to the agency’s experience with crypto‑native national trust banks.
Impact on the Federal Banking System
In his remarks, Gould emphasized that limiting digital‑asset activities would hinder the evolution of the federal banking system. He noted that custody and safekeeping services have been conducted electronically for decades, making the treatment of digital assets consistent with existing practices.
Major Firms Pursuing Charters
Major crypto firms like Coinbase, Circle, and Ripple have applied for national trust charters to expand their financial services under clear regulations. For instance, Coinbase aims to offer payment services without relying on third‑party banks, while Ripple seeks to bring its dollar‑backed stablecoin under federal supervision.
Commitment to Innovation and Oversight
Gould’s remarks underscore the OCC’s commitment to fostering innovation in the banking sector while ensuring fair and consistent oversight of all financial institutions, including those dealing with digital assets.
