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
Hong Kong to Reveal First Stablecoin License Winners April 10
The Hong Kong Monetary Authority is ready to take a big step into crypto regulation. On April 10 at 5 p.m., it will announce the first group of companies allowed to issue stablecoins in the city
This comes after months of review and growing interest from the industry. A total of 36 firms applied b
Coinfomania44m ago
Iran pays “Hormuz tolls” using Bitcoin! A fully loaded oil tanker trip costs $2 million
Reports say that Iran plans, during a U.S.-Iran ceasefire period, to require tankers transiting the Strait of Hormuz to pay a toll of $1 per barrel in Bitcoin and cryptocurrencies. The cost for a single trip could reach $2 million. A fully loaded tanker must declare its cargo and make payment with cryptocurrency, while also ensuring the transaction is not tracked. The move is intended to evade the risk of sanctions from the traditional financial system.
区块客1h ago
France Advances Law Mandating Self Custody Funds' Disclosure
The French National Assembly passed a bill requiring users to disclose self-hosted wallets with over €5,000, despite DGFIP's inability to verify data. Critics warn this may increase cybersecurity risks for users.
Coinpedia4h ago
Implement the Genius Act! The U.S. will regulate stablecoin issuers and require the ability to “freeze transactions” for anti-money laundering purposes.
The U.S. Department of the Treasury classifies stablecoin issuers as financial institutions, requiring them to comply with anti–money laundering regulations, and designates U.S. residents with no criminal record as compliance officers. The new rules give issuers the authority to freeze transactions, emphasizing protecting the financial system and promoting technological development. However, regulatory pressure and political wrangling still exist, and the outlook for the market remains to be seen.
CryptoCity4h ago
FUD Report: Taiwan’s special law passing—USDT withdrawals will be banned! Crypto City walks you through debunking each and every panic claim
A netizen on Threads claimed that Taiwan’s special law would ban USDT trading, saying it’s actually fear-based marketing. Experts emphasized that the draft permits overseas stablecoin transactions, and urged people to choose legitimate exchanges to avoid scams and risks. The government will legally penalize unregistered underground coin dealers, and the public should stay rational and not believe online rumors.
CryptoCity4h ago
Implement the Genius Act! The U.S. will regulate stablecoin issuers and require the ability to freeze transactions for “anti–money laundering” purposes
The U.S. Department of the Treasury classifies stablecoin issuers as financial institutions, requiring them to comply with anti-money-laundering regulations and designating U.S. residents with no criminal record as compliance officers. The new requirements give issuers the authority to freeze transactions, emphasizing the protection of the financial system and the promotion of technological development. However, regulatory pressure and political leverage still exist, and the outlook for the market remains to be seen.
CryptoCity7h ago
