Letter Urging OCC to Deny Coinbase’s Application for a National Trust Bank Charter

ICBA sent a letter to the OCC urging it to deny Coinbase’s application for a national trust bank charter for its subsidiary, Coinbase National Trust Company.

ICBA said the application fails to meet statutory chartering standards, presents compounding safety and soundness risks, and would set a dangerous precedent for the structure of the U.S. banking system.