Coinbase Trust Bank Charter Faces Opposition from Traditional Banking Institutions

Leading cryptocurrency exchange Coinbase encounters significant resistance from established banking institutions regarding its application for a trust bank charter. Traditional financial entities express concerns about regulatory standards and market competition as Coinbase seeks to expand its banking services. The trust bank charter would enable Coinbase to offer enhanced custodial services and payment systems, potentially disrupting conventional banking models. This development highlights the ongoing tension between innovative crypto platforms and traditional financial systems as digital asset adoption accelerates globally.