OCC Reopens Doors for Digital Asset Bank Charters

The regulatory landscape is shifting as the Office of the Comptroller of the Currency (OCC) signals a more receptive stance toward crypto-native institutions. While the agency has already granted conditional approvals to entities such as Circle, Ripple, and Coinbase, the path to a full charter remains rigorous. The July 21 rejection of Wise National Trust serves as a reminder that federal oversight remains stringent, with each application subject to individual scrutiny regarding capital, liquidity, and operational structure.

Currently, 13 digital asset firms—including Payward, Revolut, and World Liberty—are awaiting decisions. These companies seek to trade a patchwork of state-level regulations for a unified federal supervisor, a move that would streamline custody and settlement services. However, this expansion faces ongoing friction. Critics, including Senator Elizabeth Warren and the Bank Policy Institute, continue to challenge the legal scope of national trust charters, questioning whether crypto activities align with the traditional limits of the National Bank Act. As the FDIC implements its own two-phase review process starting August 15, the industry awaits further signals on how these federal entities will balance innovation with systemic stability.