- The American Bankers Association (ABA) is urging the OCC to pause national bank charters for crypto firms until the GENIUS Act, the 2025 federal stablecoin law, is fully implemented.
- The lobby warns that premature approvals could repeat failures like FTX and Celsius, citing a lack of clear receivership protocols and potential regulatory gaps between banking and securities oversight.
- To prevent consumer confusion, the ABA also demands stricter rules to stop limited-purpose crypto trust entities from using the word “bank” in their official names.
The American Bankers Association (ABA) is urging the Office of the Comptroller of the Currency (OCC) to slow down on granting national bank charters to crypto and…
