Coinbase's Trust Charter Ignites Banking Backlash Over Consumer Risks
The OCC greenlights Coinbase's trust charter, and banks erupt. ICBA calls it a 'grave mistake' that endangers U.S. consumers, exposing fault lines in fintech's banking ambitions.
⚡ Key Takeaways
- OCC approves Coinbase's trust charter for crypto custody, drawing sharp ICBA criticism over consumer risks and regulatory shortcuts. 𝕏
- Fintech charter apps exploded in 2025, signaling a rush for federal access to bypass state licenses. 𝕏
- Banks fear turf loss; Coinbase vows no deposits, but tensions foreshadow broader fintech-bank clashes. 𝕏
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Originally reported by PYMNTS
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