US Banking Groups Urge OCC to Delay Crypto Bank Licenses Amid Policy Concerns

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Major US banking trade groups have called on the Office of the Comptroller of the Currency (OCC) to delay its decision on granting bank licenses to crypto firms, arguing that the move could mark a significant departure from existing banking policy. In a letter sent on Thursday, the American Bankers Association and several credit union groups stated that approving national bank charters for stablecoin issuers like Circle Internet Group, Ripple Labs, and Fidelity Digital Assets raises “significant...