Coinbase Applies for National Trust Charter for Federal Oversight

Coinbase has applied for a national trust charter from the U.S. Office of the Comptroller of the Currency (OCC), which would place the firm under federal regulatory oversight if granted. This charter will enable Coinbase to expand its existing custody services by introducing new financial offerings such as payments and settlements without the need for a full-service bank charter or state-by-state approvals. Coinbase insists it does not intend to become a bank but seeks clearer regulatory guidelines that would foster innovation while ensuring proper oversight and security. Currently, its main regulated custody service operates through Coinbase Custody Trust Company, licensed under New York's BitLicense. The application aligns with a trend among crypto companies looking for federal supervision as the regulatory landscape evolves.

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