On February 12, it was reported that in 2026, the American Bankers Association (ABA) officially sent a letter to the Office of the Comptroller of the Currency (OCC), demanding an immediate halt to the review of national bank charters for multiple cryptocurrency companies, including Ripple, Circle, and other related applicants. This move is seen as a strong countermeasure by the traditional American banking system against the expansion of the digital asset sector.
In the letter, the ABA stated that until Congress completes a regulatory framework for crypto finance, the OCC should not continue processing these applications at the traditional banking approval pace. The association emphasized that regulators must thoroughly assess applicants’ compliance responsibilities, capital structures, and potential systemic risks before issuing any charters.
One of the contentious issues is the GENIUS Act. The ABA criticized the OCC for tying charter approvals to this bill, which still requires several federal agencies to complete supporting regulations, and full implementation could take years. The ABA is concerned that issuing licenses prematurely, before the regulatory system is fully developed, could increase bankruptcy and liquidity risks.
Currently, Ripple’s application is the most closely watched. The company previously received conditional approval from the OCC, which was seen as a step away from full licensing. This development has triggered strong opposition from the ABA. Additionally, World Liberty Financial has also applied to become a federally chartered national trust bank, sparking controversy in political circles.
Besides these companies, Circle, BitGo, Paxos, and Laser Digital, a subsidiary of Nomura Securities, have also been mentioned as relevant cases. The ABA also warned that some crypto institutions might bypass restrictions on interest income outlined in the GENIUS Act through affiliated platforms, creating regulatory arbitrage.
This incident indicates that the battle between the US crypto finance sector and the traditional banking system is escalating. As legislative and regulatory processes continue to advance, whether the OCC will adjust its review pace will directly impact the institutionalization of the US digital asset industry.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
U.S. CFTC Chair Selig Sets Key Focus: Launching Cryptocurrency Perpetual Contracts in Weeks, Ending Turf Battle with SEC
CFTC Chairman Mike Selig emphasized the future focus areas at the FIA conference, including the launch of real crypto perpetual contracts within a few weeks, resolving regulatory disputes with the SEC, and establishing regulatory standards for prediction markets. Selig advocates for a "minimum effective intervention" approach to regulation, aiming to promote market liquidity and clear regulations, reduce political interference, and reposition the CFTC as a facilitator of the market.
動區BlockTempo9m ago
Brazil's Crypto Faction Prepare to Fight Stablecoin Taxation in Congress
The crypto faction in the Brazilian Congress is expecting the issuance of a decree to establish a 3.5% tax on stablecoin transactions to file a draft bill and block this initiative. The Parliamentary Front for the Free Market argues that the measure would constitute an overreach of the Executive
Coinpedia1h ago
Lummis pushes for crypto tax exemptions before stepping down, CLARITY bill stalemate remains unresolved
Wyoming Senator Cynthia Lummis is advocating for tax exemptions on cryptocurrency transactions under $300 to promote everyday use of cryptocurrencies. However, the CLARITY Act faces obstacles in the Senate, mainly due to regulatory disputes over crypto token stocks and opposition from the banking industry. With Lummis stepping down soon, the legislative prospects remain uncertain.
MarketWhisper1h ago
U.S. CFTC Chair Outlines Future Priorities: Clarifying Crypto Regulations, Ending Regulatory Disputes with SEC, and More
CFTC Chairman Mike Selig stated at the conference that the United States is experiencing a technological revolution driven by AI and blockchain, emphasizing the need to adjust the regulatory framework to adapt to changes. Key areas include derivatives market regulation, addressing legacy issues in legislation, clarifying the classification of crypto contracts, and prioritizing agricultural and energy needs.
GateNews1h ago
U.S. banking industry plans to sue OCC over blocking crypto licenses, BPI says regulatory rules are being distorted
The US banking industry is considering filing a lawsuit against the Office of the Comptroller of the Currency (OCC) because the OCC has granted national trust bank charters to cryptocurrency and fintech companies. BPI believes this move is illegal and has led to regulatory unfairness. Opposing voices include the Banking Association and state regulators, who argue that this measure could bypass traditional regulation. The OCC has approved licenses for multiple crypto companies, but this has sparked controversy, especially with applications from companies related to the Trump family drawing congressional scrutiny. If the lawsuit succeeds, it could impact the compliance status of crypto companies and the regulatory framework.
MarketWhisper2h ago
What is the impact of the SEC's issuance of interpretive guidance promoting a "Token Classification Framework" on the cryptocurrency industry?
The U.S. Securities and Exchange Commission (SEC) has submitted new interpretive guidance on crypto assets, planning to establish a token classification framework to clearly define which crypto assets are securities and their related regulatory requirements. The guidance aims to fill legislative gaps and influence the operational models of crypto companies. As the global digital asset market develops, the U.S. regulatory framework is moving towards institutionalization, which could change global regulatory trends.
区块客2h ago
