OCC signals openness to digital asset bank charters, with 40 applications pending and decisions expected within 120 days.
Regulation & Gov ·
The Office of the Comptroller of the Currency has indicated receptiveness to national bank charters for firms engaged in digital assets and emerging technologies. Comptroller Jonathan Gould stated that regulatory discouragement of new bank applications, which had persisted for over a decade, has ended. The OCC received 40 de novo applications over the past 18 months, with decisions on complete applications expected to arrive within 120 days.
The shift reflects a change in posture toward charter applications from companies working in legally permissible digital-asset activities. Previously, the regulatory environment had effectively discouraged such applications, creating a barrier to institutional integration of crypto-focused firms into the traditional banking infrastructure.
The timeline for decisions and the actual approval rate remain uncertain. While the signal suggests openness, the number of applications that will ultimately be granted and the criteria for approval have not been detailed. The practical impact will depend on how many of the 40 pending applications proceed to completion and are approved.