The Digital Chamber has urged the Office of the Comptroller of the Currency (OCC) to maintain its decision to grant national trust bank charters to cryptocurrency firms like Coinbase, Ripple, and Circle. This comes in response to Senator Elizabeth Warren's claims that these approvals violate the National Bank Act and threaten the U.S. banking system's safety.
In a letter to OCC Acting Comptroller Jonathan Gould, the Digital Chamber argued that the GENIUS Act empowers the OCC to issue bank charters to stablecoin companies. They emphasized that these firms do not accept FDIC-insured deposits, distinguishing them from traditional banks and mitigating the risks Warren highlighted.
Crypto Industry Backs OCC's Stablecoin Bank Charter Amid Warren's Criticism
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