-
Crypto.com Gets Conditional US Approval for National Trust Bank Charter
Feb 23 (Reuters) - Crypto.com announced on Monday it has received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter, paving the way for the digital assets firm to become a federally regulated custodian.
The approval coincides with the U.S. adopting a more crypto-friendly stance, with regulators easing earlier restrictions and enforcement actions.
The charter permits Crypto.com to manage and hold client assets and handle trade settlements within a federally regulated framework, though it does not allow for cash deposits or loan issuance.
Upon full approval, the company will operate as a federally regulated national trust bank subject to OCC oversight.
Analysts have noted that a national trust bank charter is essential for crypto-native companies to attract institutional clients and integrate more thoroughly with the traditional financial system.
Founded in 2016, Crypto.com is a well-known digital assets exchange, listing over 400 tokens on its platform.
This article has been published in reuters.com via Yahoo News.
Crypto.com gets conditional US approval for national trust bank charter
Crypto.com said on Monday it has received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter, paving the way for the digital assets firm to become a federally regulated custodian. The approval comes as the U.S. adopts a markedly more...
finance.yahoo.com
