U.S. Regulator OCC Rejects Bank Opposition to Crypto Trust Charters, Boosting Industry Legitimacy

The Office of the Comptroller of the Currency (OCC) has firmly opposed efforts by traditional banking groups to block national trust charters for cryptocurrency businesses. Acting Comptroller Michael Hsu clarified the OCC's stance, emphasizing that such charters are a legitimate path for crypto firms to operate nationally under a unified regulatory framework. This move is seen as a significant rebuttal to lobbying from the American Bankers Association and the Bank Policy Institute, who argued these charters create an unfair advantage. The OCC's position reinforces its 2020 interpretive letters, providing regulatory clarity and a potential boost for crypto adoption by integrating digital asset services into the formal financial system. This decision marks a pivotal step towards establishing clearer rules and institutional trust for Bitcoin (BTC), Ethereum (ETH), and the broader crypto market.