American Bankers Association presses OCC to slow crypto trust charters and clarify uninsured bank risks

The American Bankers Association urged the Office of the Comptroller of the Currency in a Wednesday comment letter to pause approvals of uninsured national bank charters for digital asset firms until new GENIUS Act rules are fully in place. The group also called for clearer receivership tools, potential SEC registration guidance for certain applicants, limits on the use of the word "bank", and resolution of stablecoin yield rules as multiple crypto companies seek OCC trust charters.