OCC’s Gould Suggests Crypto Firms Could Pursue Federal Bank Charters

• OCC’s Jonathan Gould advocates for equal treatment of crypto firms in bank chartering processes.

• Crypto custody services mirror long-standing electronic safekeeping practices in banking.

• In 2025, the OCC received 14 new bank applications, including several from digital asset entities, signaling growing integration.

Discover how the OCC is paving the way for crypto companies to secure federal bank charters. Learn about blockchain’s role in modern banking and implications for digital assets. Stay informed on regulatory shifts today.

What is the OCC’s Position on Crypto Companies Seeking US Federal Bank Charters?

Crypto companies seeking US federal bank charters should be evaluated no differently than other financial institutions, according to Jonathan Gould, head of the Office of the Comptroller of the Currency (OCC). In remarks at the 2025 Blockchain Association Policy Summit, Gould highlighted that while some applicants in digital or fintech spaces may introduce novel activities, core services like custody and safekeeping have been conducted electronically for decades. He stressed the need to evolve the banking system from historical technologies like the telegraph to modern blockchain innovations, ensuring that digital assets are not unfairly distinguished.

How Does the OCC Plan to Supervise Crypto Firms in the Banking System?

The OCC views the banking system as adaptable, with the capacity to incorporate blockchain and digital assets seamlessly. Gould noted that the regulator has received 14 applications to start new banks in 2025 alone, nearly matching the total from the previous four years combined, with several involving novel digital asset activities. This surge underscores the growing interest in federal supervision for crypto entities. “Chartering helps ensure that the banking system continues to keep pace with the evolution of finance and supports our modern economy,” Gould stated, emphasizing that such pathways are essential for entities engaged in digital assets and emerging technologies.

Comptroller of the Currency Jonathan Gould giving remarks at the 2025 Blockchain Association Policy Summit. Source: YouTube

To address supervision, the OCC draws on its experience overseeing crypto-native institutions. Only two crypto-focused banks currently hold OCC licenses: Anchorage Digital, chartered since 2021, and Erebor, which received a preliminary charter in October 2024. These examples demonstrate the regulator’s ability to manage risks associated with digital assets. Gould dismissed concerns from traditional banks and financial trade groups about the challenges of overseeing crypto firms, arguing that such worries could hinder innovations beneficial to customers and local economies. The OCC has supervised Anchorage Digital for years, gaining valuable insights into crypto operations within a regulated framework.

Furthermore, Gould pointed out that existing national banks are frequently launching their own digital initiatives, from blockchain-based payments to asset tokenization. This internal evolution reinforces the OCC’s confidence in supervising both new entrants and innovative activities fairly. By treating crypto companies equivalently, the OCC aims to foster a inclusive banking environment that leverages blockchain’s efficiency and security features. Experts in financial regulation, such as those from the American Bankers Association, have long advocated for clear guidelines on digital assets, and Gould’s comments align with broader calls for modernization without compromising safety and soundness.

The OCC’s approach also involves rigorous chartering processes that assess capital adequacy, risk management, and compliance with anti-money laundering standards. For crypto firms, this means demonstrating robust cybersecurity measures and transparent operations for digital asset custody. Historical data from the OCC shows that electronic safekeeping services, akin to crypto custody, have been standard since the 1990s, with billions in assets managed securely. By extending this precedent to blockchain, the OCC ensures that supervision evolves alongside technology, preventing silos between traditional and digital finance.

Frequently Asked Questions

Can Crypto Companies Apply for OCC Bank Charters in 2025?

Yes, crypto companies can apply for OCC federal bank charters in 2025, with the regulator treating them like any other financial institution. Jonathan Gould confirmed receiving multiple applications from digital asset entities this year, emphasizing equal evaluation based on safety, soundness, and innovation potential, without bias against blockchain technologies.

What Role Does Blockchain Play in the OCC’s Vision for Banking?

Blockchain plays a pivotal role in the OCC’s vision by enabling the banking system to evolve from outdated methods to secure, efficient digital processes. As Gould explained, it supports modern finance through activities like digital asset custody, ensuring banks remain competitive and inclusive for innovative firms while maintaining regulatory oversight.

Key Takeaways

• Equal Treatment for Crypto Firms: The OCC insists on evaluating crypto companies for bank charters identically to traditional institutions, removing barriers to federal supervision.
• Evolving Supervision Capacity: With experience from Anchorage Digital and Erebor, the OCC is equipped to oversee blockchain innovations, addressing concerns from legacy banks.
• Pathway to Integration: Entities in digital assets should pursue chartering to align with the modern economy, fostering broader adoption of blockchain in finance.

Conclusion

The OCC’s endorsement of crypto companies seeking US federal bank charters marks a significant step toward integrating digital assets into the mainstream banking framework, as articulated by Jonathan Gould. By advocating for pathways to supervision and dismissing outdated prejudices against blockchain, the regulator is positioning the US financial system for sustainable innovation. As applications continue to rise in 2025, this approach promises to enhance efficiency, security, and accessibility in finance—encouraging crypto firms to engage with federal oversight and contribute to a dynamic economic landscape.