US Banking Industry Opposes Crypto Company Bank Charter Application

BlockBeats News, July 21st, according to Cointelegraph, the American Bankers Association and Credit Union National Association jointly wrote to the Office of the Comptroller of the Currency (OCC), requesting a delay in the decision on bank charter applications from companies such as Circle and Ripple. The banking industry believes that these applications lack sufficient information for public evaluation and that the business models of crypto companies are fundamentally different from those of traditional trust banks.