Coinbase Applies to OCC for National Trust Charter

BlockBeats News, October 4th, according to The Block, cryptocurrency exchange Coinbase (ticker: COIN) stated in a declaration that it is applying for a nationwide trust charter with the Office of the Comptroller of the Currency (OCC).

Greg Tusar, Coinbase's VP of Institutional Products, stated in the declaration: "The OCC charter will streamline regulatory oversight of new products and foster ongoing innovation, integrating digital assets into traditional finance. We are not the first cryptocurrency company to apply for a federal charter, nor will we be the last." Tusar mentioned that Coinbase has no intention of becoming a bank. So far, Paxos, BitGo, Ripple, and Circle have also applied to the OCC for a banking charter in response to the crypto-friendly regulatory environment under the Trump administration.