Bank Groups Urge OCC to Hit Pause on Crypto Trust Charters

Crypto News Regulation

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 12, 2026

Key Takeaways

Bank groups urged the OCC to slow national trust approvals for crypto firms until the GENIUS Act rules give clearer oversight standards;
The ABA warned that digital-asset applicants face unclear federal and state supervision that should be resolved before charter decisions;
The ABA raised risks around asset handling, cyber gaps, and possible SEC or CFTC oversight avoidance through national trust charters.

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Bank Groups Urge OCC to Hit Pause on Crypto Trust Charters

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Several US banking groups pushed the Office of the Comptroller of the Currency (OCC) to slow down its review of national trust bank applications from crypto and stablecoin companies.

They stated that the OCC should wait until the rules tied to the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act are clearer.

The American Bankers Association (ABA) explained its position in a letter responding to the OCC’s proposed updates to the chartering process. The group noted that applicants involved with stablecoins and other digital assets still face uncertain oversight from federal and state regulators.

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The ABA believes the OCC should avoid approving charters when an institution’s full set of regulatory duties is not yet defined, including any future requirements arising from the GENIUS Act rulemaking.

The association also raised several risk concerns. It stated that national trust banks focused on digital assets, especially those without deposit insurance, still present open questions about operational soundness and how they would handle customer assets.

The ABA pointed to gaps around asset segregation, potential conflicts of interest, and cyber risks.

Another concern involves how a national trust charter might be used to bypass oversight from the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).

The ABA warned that some firms could use these charters to reduce or avoid obligations that would normally apply if the same activities were reviewed under securities or derivatives rules.

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