Coinbase National Trust Bank Charter Receives Full Federal Approval

The Coinbase National Trust Bank Charter is a crucial milestone for the company’s strategy to strengthen its position in the US financial system. The Office of the Comptroller of the Currency (OCC) has elevated the conditional approval that the company had received earlier to a full national trust charter, putting its digital asset custody business under federal regulation. This will allow Coinbase to conduct business via Coinbase National Trust Company, and the company plans to migrate its custody business to federal regulation in the next three years. It is also indicative of a broader regulatory trend in the United States, where the federal government seeks to bring digital asset custodians and stablecoin-related services under banking regulations.

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