The post BitGo Nearing Federal Bank Status with OCC Approval appeared on BitcoinEthereumNews.com. Key Points: BitGo seeks federal bank charter via OCC approval.The post BitGo Nearing Federal Bank Status with OCC Approval appeared on BitcoinEthereumNews.com. Key Points: BitGo seeks federal bank charter via OCC approval.

BitGo Nearing Federal Bank Status with OCC Approval

2025/12/13 08:39
Key Points:
  • BitGo seeks federal bank charter via OCC approval.
  • Approval allows broader digital asset services soon.
  • Immediate market impact and industry shifts anticipated.

BitGo has received conditional approval from the Office of the Comptroller of the Currency to become a national trust bank, pending final approval to expand its cryptocurrency custody services.

The shift to a federal charter could streamline BitGo’s operations, eliminating state-by-state licensing, and solidify its position in the regulated crypto market landscape.

BitGo to Transform South Dakota Trust into Federal Bank

BitGo received conditional approval from the OCC to transition its South Dakota-registered trust into a national trust bank. Final approval will allow BitGo to offer regulated crypto services under a unified federal charter, eliminating the need for state licensing.

Upon receiving full regulatory approval, BitGo will be able to custody digital and certain non-deposit financial assets and provide a variety of crypto-related services. Stablecoins under BitGo custody must adhere to regulations outlined in the GENIUS Act.

“The cryptocurrency community shows cautious optimism towards BitGo’s banking transition, recognizing the potential for more comprehensive and regulated crypto services.” Officials have yet to release reactions, but BitGo’s move is seen as aligning with industry trends for federal oversight in crypto banking. Five crypto firms, including Ripple, seek banking charter approval.

Bitcoin Decline Amid BitGo’s Federal Charter Move

Did you know? The Office of the Comptroller of the Currency has historically granted trust-to-bank conversions since 1978, impacting financial services evolution.

The current price of Bitcoin stands at $90,332.42, showing a 2.25% decline over the past 24 hours, as per CoinMarketCap. Its market cap is recorded at $1.80 trillion, and it leads with a 58.77% market dominance, despite a significant downtrend over 90 days.

Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 00:31 UTC on December 13, 2025. Source: CoinMarketCap

Experts from the Coincu research team suggest that BitGo’s transition to a federally chartered entity could enhance compliance frameworks in crypto. They believe this move aligns with industry shifts towards increased regulatory oversight and could pave the way for other crypto entities seeking federal charters.

Source: https://coincu.com/news/bitgo-occ-national-trust-bank/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales offload 200 million XRP leaving market uncertainty behind. XRP faces potential collapse as whales drive major price shifts. Is XRP’s future in danger after massive sell-off by whales? XRP’s price has been under intense pressure recently as whales reportedly offloaded a staggering 200 million XRP over the past two weeks. This massive sell-off has raised alarms across the cryptocurrency community, as many wonder if the market is on the brink of collapse or just undergoing a temporary correction. According to crypto analyst Ali (@ali_charts), this surge in whale activity correlates directly with the price fluctuations seen in the past few weeks. XRP experienced a sharp spike in late July and early August, but the price quickly reversed as whales began to sell their holdings in large quantities. The increased volume during this period highlights the intensity of the sell-off, leaving many traders to question the future of XRP’s value. Whales have offloaded around 200 million $XRP in the last two weeks! pic.twitter.com/MiSQPpDwZM — Ali (@ali_charts) September 17, 2025 Also Read: Shiba Inu’s Price Is at a Tipping Point: Will It Break or Crash Soon? Can XRP Recover or Is a Bigger Decline Ahead? As the market absorbs the effects of the whale offload, technical indicators suggest that XRP may be facing a period of consolidation. The Relative Strength Index (RSI), currently sitting at 53.05, signals a neutral market stance, indicating that XRP could move in either direction. This leaves traders uncertain whether the XRP will break above its current resistance levels or continue to fall as more whales sell off their holdings. Source: Tradingview Additionally, the Bollinger Bands, suggest that XRP is nearing the upper limits of its range. This often points to a potential slowdown or pullback in price, further raising concerns about the future direction of the XRP. With the price currently around $3.02, many are questioning whether XRP can regain its footing or if it will continue to decline. The Aftermath of Whale Activity: Is XRP’s Future in Danger? Despite the large sell-off, XRP is not yet showing signs of total collapse. However, the market remains fragile, and the price is likely to remain volatile in the coming days. With whales continuing to influence price movements, many investors are watching closely to see if this trend will reverse or intensify. The coming weeks will be critical for determining whether XRP can stabilize or face further declines. The combination of whale offloading and technical indicators suggest that XRP’s price is at a crossroads. Traders and investors alike are waiting for clear signals to determine if the XRP will bounce back or continue its downward trajectory. Also Read: Metaplanet’s Bold Move: $15M U.S. Subsidiary to Supercharge Bitcoin Strategy The post Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse? appeared first on 36Crypto.
Share
Coinstats2025/09/17 23:42