Crypto.com receives OCC conditional approval to apply for a federal regulatory bank license

Hashi Chain hears the news: 1. Crypto.com has received conditional approval from the Office of the Comptroller of the Currency (OCC) to advance its application for a federal charter national bank license. The company stated that this approval will allow it to provide digital asset custody and staking services under a federal regulatory framework. 2. Co-founder and CEO Kris Marszalek stated that this conditional approval reflects the company's commitment to compliance and secure services, bringing it closer to providing institutional clients with 'a one-stop qualified custodian service under federal gold standard regulation.' 3. Crypto.com has become the latest crypto company to receive conditional approval from the OCC and seek federal regulatory bank status. Companies like Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos have also made similar progress previously. 4. Obtaining a national trust bank license means the company will be subject to federal level regulation rather than state-level regulation and will be authorized to custody and safeguard customer assets. 5. Over the past year, under the presidential administration's friendly stance towards the digital asset industry, the OCC has made it clear that U.S. banks can buy and sell crypto assets on their own behalf and has rescinded certain restrictive policies aimed at reducing the compliance burden for banks participating in crypto business.