Coinbase Receives Conditional Approval for National Trust Charter in the U.S.

Coinbase, a leading American cryptocurrency exchange, has received conditional approval from the Office of the Comptroller of the Currency for a national trust charter. This significant development is a result of years of sustained compliance efforts and active engagement with regulators, leading towards increased regulatory clarity. This approval does not convert Coinbase into a typical commercial bank but ensures consistent federal supervision over its existing custody and market infrastructure services. The charter is designed to protect user assets, and Coinbase intends to use it to provide institutional-level security and regulatory consistency for the assets it manages for its clients. Greg Tusar, Co-CEO of Coinbase Institutional, stated that the milestone represents a victory for the industry, demonstrating that innovation and accountability can coexist.