US Banking Lobby Urges Delay on Crypto Bank Charter Approvals

• US banks asked the OCC to delay crypto-related bank charters until digital asset regulations are clearly defined.
• Crypto firms like Circle, Ripple, Coinbase, and Paxos seek charters that could give direct access to Federal Reserve systems.
• Banks warned that conditional approvals tied to the GENIUS Act could create financial and operational risks.

Major US banking groups are pushing regulators to slow approvals for crypto-related bank charters. The American Bankers Association (ABA) asked the Office of the Comptroller of the Currency (OCC) to delay decisions on digital asset firms until clear regulatory rules are in place.

The request targets crypto companies seeking national trust bank charters that could give them direct access to the Federal Reserve system and regulated settlement services.

Banks argue that approving these applications before lawmakers finaliz…

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