OCC Head Advocates for Equal Treatment of Crypto Firms in Bank Chartering Process

Jonathan Gould, the head of the US Office of the Comptroller of the Currency (OCC), has pushed back on banker complaints about allowing digital asset firms seeking to establish national trust bank charters.

Speaking at an industry event in Washington, he said that crypto companies seeking federal bank charters should be evaluated no differently than traditional financial institutions.

Limiting digital asset activities would “undermine the dynamic and evolving nature of the federal banking system,” he said.

Further, he highlighted the OCC’s long history of chartering national trust banks and their activities. The OCC received about 14 charter applications since the start of the year, including digital asset firms.

“Although the proposed activities of some new charter applicants, specifically those in the digital or fintech spaces, could be viewed as new activities for a national trust bank, custody and safekeeping services have been happening electronically for decades,” the OCC chief said. “There is simply no justification for considering digital assets differently.”

OCC Plans to Supervise Crypto Firms in Banking System – Here’s How

Gould also dismissed concerns from certain existing banks regarding OCC’s lack of supervisory capacity to oversee new applicants’ activities.

In remarks at the 2025 Blockchain Association Policy Summit, Gould noted that the agency is hearing daily from existing banks about their own initiatives for innovative products and services.

“The OCC has also had years of experience supervising a crypto-native national trust bank,” Gould added. “All of this reinforces my confidence in the OCC’s ability to effectively supervise new entrants as well as new activities of existing banks in a fair and even-handed manner.”

Besides, he emphasized the need to evolve the banking system from historical technologies like the telegraph to modern blockchain innovations.

Crypto Players Apply for National Trust Charter

In October, Coinbase filed an application with the US OCC for a National Trust Company Charter to expand financial services under clear regulations.

Despite the move, Coinbase was clear that it has no plans to become a traditional bank. If granted, the license would allow the crypto exchange giant to offer payments without depending on third-party banks.

Circle and Ripple have filed similar applications. For instance, Ripple intended to bring its dollar-backed stablecoin, RLUSD, under federal supervision by seeking a national banking license.

Additionally, Circle is looking to launch a federally regulated entity named First National Digital Currency Bank that would allow the company to offer crypto custody.