Forbes: Crypto.com Just One Step Away From Becoming a U.S. National Trust Bank

BlockBeats News, February 24th. According to Forbes, Crypto.com has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a U.S. national trust bank focused on digital asset custody and trustee services. According to Research and Market data, the institutional capitalization of digital asset custody exceeded $800 billion last year, and the infrastructure competition to capture this market has thus entered a new stage.

The conditional approval marks the beginning of one of the most stringent phases that a crypto company may face. To obtain final authorization, Crypto.com must meet the Office of the Comptroller of the Currency's (OCC) requirements regarding capital adequacy, corporate governance, risk management, anti-money laundering controls, and operational resilience. Federal bank regulation means that ongoing supervision will be endless, with no "off switch."