"Coinbase has received conditional OCC charter approval. We're not becoming a bank, it's a trust company. We're bringing the infrastructure of crypto under federal regulatory oversight."
"The OCC's conditional approval of Coinbase's national trust charter is a landmark moment. Enormous thanks to Comptroller of the Currency Jonathan Gould and his team for their diligent review of our application."
"This charter is about bringing federal regulatory uniformity to the custody and market infrastructure business we have been building."
Coinbase has received conditional approval from the OCC for a national trust charter, clarifying its regulatory direction. The approval indicates a shift towards federal oversight of crypto infrastructure while maintaining a non-bank model focused on custody and institutional services. CEO Brian Armstrong emphasized that Coinbase is not transitioning into banking activities. The charter aims to support custody and infrastructure services under federal supervision, without engaging in retail banking, deposits, or lending operations.
Read at news.bitcoin.com
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