US Regulator Opens Door to Broader Crypto Participation in Banking
The Office of the Comptroller of the Currency (OCC) is signaling a major shift in how digital-asset firms may enter the U.S. banking system. Speaking at a recent policy summit, Comptroller Jonathan Gould emphasized that crypto companies pursuing federal banking charters should face no different standards than traditional institutions.
In a notable departure from years of cautious oversight, the OCC has begun outlining a path for crypto-focused firms to operate as federally supervised banks. Gould argued that many services associated with digital assets—such as custody—are not fundamentally new and have been performed electronically for decades.
Regulator Pushes for Modernized Oversight
Gould stated there is “simply no justification for considering digital assets differently.” He stressed that the U.S. banking framework must keep pace with technological change, saying the system has the capacity to evolve “from the telegraph to the blockchain.”
The OCC has already received 14 applications to form new banks this year, nearly matching the number submitted over the previous four years. Several of these applicants are involved in digital-asset or other innovative financial activities. According to Gould, chartering these entities supports a modern financial ecosystem and ensures proper supervision.
Industry Concerns and OCC’s Response
Some financial institutions have questioned whether the OCC can effectively supervise crypto-native banks. Gould countered that years of experience supervising digital-asset trust institutions demonstrate the agency’s readiness. He noted that national banks are increasingly exploring blockchain-based products, reinforcing confidence in the OCC’s ability to oversee both established firms and new entrants.
The shift indicates a growing federal willingness to integrate blockchain businesses into the regulated banking environment.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.