Banking Advocates Call on OCC to Tackle Crypto Charter Risks

The American Bankers Association is pressing the OCC to ensure proper risk management for uninsured crypto banks before granting new charters.

The American Bankers Association (ABA) is advocating for the Office of the Comptroller of the Currency (OCC) to evaluate the potential risks associated with charters for cryptocurrency firms that lack deposit insurance. They are emphasizing the importance of confirming that existing resolution tools can adequately address these risks prior to the approval of additional charters.