Key Highlights
- In the latest statement, the OCC revealed a major development that approves new federally chartered banks
- This might open the door for crypto and fintech companies to become regulated institutions
- An OCC official has raised his support for the authority of existing trust banks to hold digital assets for clients, stating that they have legally provided this custody service for decades and that crypto is not different
The U.S.’s leading banking regulator has revealed that many new federally chartered banks are going to be approved soon and stated that firms working with digital assets should have a clear regulatory framework to become regulated banks.
Our first public panel of the day: @USComptroller Jonathan Gould delivers a keynote and sits for a conversation to discuss the @USOCC’s modernization agenda and GENIUS Act implementation.
Tune in to watch the livestream here: https://t.co/6gK6lZakdz
— Blockchain Association (@BlockchainAssn) December 8, 2025
US Regulator Welcomes New Crypto-Friendly Banks
Comptroller of the Currency’s head, Jonathan V. Gould, shared a statement at a Blockchain Association Summit on December 8, where he unveiled the regulator’s plan to integrate financial innovations into the existing financial infrastructure.
In his official statement, he slammed the last 15 years of “completely stagnated” new bank formations by blaming regulators for discouraging applicants.
“Over the past 15 years, de novo chartering has completely stagnated. In the late 1990s, the OCC received over 100 de novo charter applications each year, and nearly 50 per year in the early 2000s. But from 2011 through 2024, the OCC received, on average, less than four charter applications per year,” he said.
Jonathan V. Gould further added into his statement, “Following the financial crisis, there were years when the OCC received only one or two charter applications—as well as years when the OCC did not receive a single de novo application. This shortage of applications was not due to lack of demand. Rather, regulators too often gave would-be organizers clear signals that applications for federal bank charters and federal deposit insurance were not welcome, would be indefinitely delayed, and would ultimately be denied if not withdrawn.”
However, Gould revealed that the OCC is now working to change this hostile trend “by once again embracing the role Congress gave us as the sole federal chartering agency.”
To date in 2025, the OCC has received 14 de novo charter applications, including some from entities engaged in novel or digital asset activities. This number is nearly equal to the total applications submitted over the previous 4 years combined.
OCC Head Defends Trust Banks and Digital Asset Custody
In his statement, Jonathan V. Gould has raised his support for the authority of national banks to hold digital assets. He shared his views on criticism from some existing banks and their trade groups, clarifying that non-fiduciary custody has been a standard activity for national banks for decades.
“What they fail to acknowledge is that the OCC has permitted national trust banks to engage in nonfiduciary custody activity for decades. In fact, prohibiting national trust banks from engaging in nonfiduciary activities would not only threaten to undermine the dynamic and evolving nature of the federal banking system but would also disrupt well over a trillion dollars in traditional activities of existing national trust banks,” he said.
He revealed that these banks already reported $2 trillion in nonfiduciary custodial or safekeeping assets under administration. Gould affirmed that there is “no justification for considering digital assets differently” than traditional assets.
“Additionally, it is important that we do not confine banks, including current national trust banks, to the technologies or businesses of the past. That’s a recipe for irrelevance. Activities of national trust banks have evolved, as have activities of other banks across the country. State trust companies are also currently engaged in digital asset–related activity,” he said.
Apart from this, Gould also tried to address doubts of certain entities on ability of OCC to supervise new activities. He said, “The OCC has also had years of experience supervising a crypto-native national trust bank. And the OCC is hearing from existing national banks, on a near daily basis, about their own initiatives for exciting and innovative products and services.”
Trump Administration Removes Regulatory Hurdle for Banks
Under the second term of U.S. President Donald Trump, the cryptocurrency sector has received a certain level of regulatory clarity that has enabled financial institutions to embrace the crypto-based innovations. This has triggered a new wave of bank charters and applications from institutions that want to embrace digital assets and blockchain-based innovations.
For example, major laws like the GENIUS Act and discussion around the CLARITY Act have provided much-needed clarity for the digital asset world. As a result, agencies, including the OCC, FDIC, and Federal Reserve, have removed previous restrictive guidance. It allows banks to custody cryptocurrencies, manage stablecoin reserves, and participate in blockchain networks.
