OCC pushes to revive bank chartering for digital asset entities

OCC: The Office of the Comptroller of the Currency is the primary federal regulator responsible for chartering, regulating, and supervising national banks and federal savings associations in the United States. It oversees compliance with banking laws and supports the safety and soundness of the national banking system. In the current development, the OCC is leading efforts to reinvigorate de novo bank chartering with a focus on entities engaged in digital assets and emerging technologies, while publicly endorsing the FDIC's parallel reform initiatives. FDIC: The Federal Deposit Insurance Corporation is an independent U.S. government agency that insures bank deposits and supervises state-chartered banks that are not members of the Federal Reserve System. It plays a key role in maintaining stability and public confidence in the nation's financial system through deposit insurance and regulatory oversight. In this context, the FDIC's recent updates to its deposit insurance application review process have been highlighted by the OCC as aligned with broader goals of encouraging new bank entrants and innovation. Regulatory Momentum: U.S. banking regulators have advanced multiple approvals and rule clarifications in recent months to enable national trust bank charters for digital asset activities such as custody and stablecoin-related services. Interagency Coordination: The OCC and FDIC are aligning their chartering and insurance review processes to reduce barriers for new banking entrants focused on technology and innovation.