OCC head says crypto banks deserve same treatment as traditional banks

Financial Groups Voice Concerns as Crypto Firms Pursue U.S. Banking Charters

Jonathan Gould, Senior Deputy Comptroller and Chief Counsel at the U.S. Office of the Comptroller of the Currency (OCC), said this week that cryptocurrency companies seeking federal banking charters should be evaluated under the same criteria applied to traditional banks. Speaking at a blockchain conference on December 8, Gould argued that digital asset custody is simply a modern extension of long-standing electronic safekeeping services, and should not be viewed as fundamentally different from existing banking functions.

The OCC, which oversees national banks, has historically regarded crypto firms as potential risks to the financial system. However, Gould noted that many early concerns were speculative, leading the agency to reconsider its stance. As a result, two crypto-focused institutions—Anchorage Digital in 2021 and Erebor this year—have already secured OCC charters, with more applications under review. Gould emphasized that the banking sector is capable of evolving from older technologies, such as telegraphs, to contemporary tools like blockchain.

This year, the OCC received around 14 applications to establish new banks, including several from companies involved in digital assets—a figure nearly equal to the total from the previous four years combined. Gould said the chartering process is essential to keeping the banking system aligned with technological and economic change. Still, he acknowledged that some banks and financial groups remain wary of the OCC’s ability to supervise crypto firms effectively. He dismissed these fears as obstacles to innovation that could ultimately benefit bank customers and local economies.

Argentina Moves to Strengthen Its Role in the Crypto Sector

As U.S. regulators debate oversight of crypto-focused banks, Argentina is considering loosening its restrictions on digital assets. According to a December 5 report, the Central Bank of Argentina (BCRA) is evaluating whether to allow traditional banks to offer cryptocurrency trading services—a shift from the strict limitations imposed in 2022, when the BCRA barred banks from providing crypto products despite growing interest from major institutions.

Gould noted that U.S. national banks frequently update the OCC on new digital-asset initiatives, reinforcing his confidence in the agency’s ability to supervise emerging technologies. Meanwhile, Argentina’s potential policy shift underscores a broader global trend: regulators are reassessing how to integrate cryptocurrencies into mainstream financial systems without compromising oversight or stability.