Bankers push OCC to slow crypto trust charters until GENIUS rules clarified

The American Bankers Association pressed the OCC to delay new national trust bank charters for crypto and stablecoin firms until the GENIUS Act framework is fully in place.

The American Bankers Association (ABA) is urging the Office of the Comptroller of the Currency (OCC) to slow its approval of national trust bank charters for crypto and stablecoin firms until the regulatory landscape under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is clearer. 

In a Wednesday comment letter on the OCC’s National Bank Chartering notice of proposed rulemaking, the trade group warned that recent and future applicants engaged in stablecoin and digital asset activities face still‑unsettled oversight from multiple federal and state regulators. 

The ABA said that the OCC should not advance applications where an institution’s full regulatory obligations, including under forthcoming GENIUS Act rulemakings, are not yet fully defined.

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