Bankers Urge OCC to Postpone Crypto Trust Charters Until GENIUS Guidance Established

The American Bankers Association (ABA) has urged the Office of the Comptroller of the Currency (OCC) to take a step back regarding the issuance of new national trust bank charters aimed at cryptocurrency and stablecoin companies. The organization’s request emphasizes the need for a comprehensive understanding of the GENIUS Act framework before proceeding.

Bankers believe that without clear guidelines, the establishment of such charters could lead to potential regulatory uncertainties and challenges in the burgeoning crypto market. The ABA's statement reflects growing concerns among financial institutions about the implications of integrating digital assets into traditional banking practices.