Jonathan Gould, the head of the Office of the Comptroller of the Currency (OCC), emphasized that cryptocurrency companies seeking a U.S. federal bank charter should not be treated differently from other financial institutions. Speaking at a blockchain conference on Monday, Gould acknowledged that while applicants from the digital or fintech sectors might offer innovative services for a national trust bank, activities like custody and safekeeping have been conducted electronically for decades. He asserted, "There is simply no justification for considering digital assets differently." Gould stressed the importance of not limiting banks, including current national trust banks, to outdated technologies or business models.
The OCC, which oversees national banks, has historically viewed crypto companies as potential risks to the banking system. Currently, only two crypto banks hold OCC licenses: Anchorage Digital, chartered since 2021, and Erebor, which received a preliminary banking charter in October. Gould argued that the banking system is capable of evolving, from the telegraph era to the blockchain age. He noted that the OCC had received 14 new bank charter applications this year, some from entities involved in digital or novel asset activities, a number comparable to applications from the past four years.
In his remarks at the 2025 Blockchain Association Policy Summit, Gould highlighted that chartering is vital for ensuring the banking system keeps pace with financial evolution, thereby supporting the modern economy. He advocated for digital asset entities and those using novel technologies to have a route to become federally supervised banks. Addressing concerns from banks and financial trade groups about crypto companies acquiring banking charters and the OCC's oversight capabilities, Gould warned against reversing innovations that could better serve customers and bolster local economies. He pointed out the OCC's extensive experience in supervising a crypto-native national trust bank.
Gould shared that existing national banks frequently communicate their initiatives for innovative products and services, reinforcing his confidence in the OCC's ability to oversee both new entrants and the novel activities of existing banks in a fair and balanced way.