OCC Embraces Banking Innovation: From Telegraphs to Tokens

Crypto News Regulation

From Telegraphs to Tokens: OCC Embraces New Era of Banking Innovation

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 09, 2025

Key Takeaways

OCC head Jonathan Gould said crypto firms should not face different treatment from traditional banks seeking federal charters;
Gould argued that blockchain is simply a new technology for longstanding services like custody, which fits within existing trust bank models;
Clear charter paths for digital asset firms, Gould said, help banking evolve and strengthen oversight for modern financial innovation.

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From Telegraphs to Tokens: OCC Embraces New Era of Banking Innovation

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The head of the Office of the Comptroller of the Currency (OCC), Jonathan Gould, said at a blockchain conference on December 8 that there is no valid reason to treat crypto companies differently from other financial institutions.

He explained that firms seeking a US federal bank charter in the digital or fintech industry could be considered as offering new services under a national trust bank model. He pointed out that custody and safekeeping services have been happening electronically for decades.

The OCC oversees federal banks and has viewed crypto firms as potential threats to the banking system. Currently, only two crypto-native banks hold OCC approval: Anchorage Digital, chartered in 2021, and Erebor, which received a preliminary charter in October.

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Gould emphasized that the banking system can adapt its approach by moving from older methods like the telegraph to newer technologies, such as blockchain.

He mentioned that the OCC received 14 applications to establish new banks so far this year, including from organizations involved in digital asset services.

He noted that having a clear path to charters for firms dealing with digital assets or other emerging technology helps the banking system evolve and supports the modern economy.

Gould addressed worries raised by existing banks and trade groups regarding crypto firms gaining access to banking charters and the OCC's oversight capabilities.

He warned that such concerns could slow down improvements that would benefit bank clients and local communities. He highlighted that the OCC has years of experience supervising at least one crypto-native national trust bank.

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