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US Banks Raise Alarm: New Crypto Licenses as a Risk to the Banking System?
US banks are collectively opposing the new crypto strategy of the Office of the Comptroller of the Currency (OCC). The idea is to integrate crypto companies into the federal banking system – is this a serious threat to the stability of the financial system?
On December 12, the OCC granted national trust licenses to five digital asset companies under certain conditions, including Ripple, Fidelity, Paxos, First National Digital Currency Bank, and BitGo. The banking regulator emphasized that the crypto applicants underwent the same 'rigorous review process' as any other bank.
On December 12, the OCC granted national trust licenses to five digital asset companies under certain conditions, including Ripple, Fidelity, Paxos, First National Digital Currency Bank, and BitGo. The banking regulator emphasized that the crypto applicants underwent the same 'rigorous review process' as any other bank.
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