Coinbase approved as national trust bank by the OCC today
Big news for crypto fans: Coinbase just got approved as a full national trust bank by US regulators, the Office of the Comptroller of the Currency (OCC).
This means it can now offer federally regulated payment and custodial services: think safer, more official ways to store and move your digital assets.
The announcement follows Ripple getting a similar upgrade not long ago.
Coinbase cleared April hurdles amid lawsuit
Coinbase had to clear some serious regulatory hurdles since getting provisional approval in April, but its new status shows how quickly crypto companies are joining the mainstream under laws like the GENIUS Act (which helps with stablecoin rules).
Not everyone's thrilled, though: the Independent Community Bankers of America is actually suing over these charters, arguing that giving bank status to crypto firms might be overstepping.
Still, it's another big step for bringing digital currency into everyday finance.