On February 12, it was reported that in 2026, the American Bankers Association (ABA) officially sent a letter to the Office of the Comptroller of the Currency (OCC), demanding an immediate halt to the review of national bank charters for multiple cryptocurrency companies, including Ripple, Circle, and other related applicants. This move is seen as a strong countermeasure by the traditional American banking system against the expansion of the digital asset sector.
In the letter, the ABA stated that until Congress completes a regulatory framework for crypto finance, the OCC should not continue processing these applications at the traditional banking approval pace. The association emphasized that regulators must thoroughly assess applicants’ compliance responsibilities, capital structures, and potential systemic risks before issuing any charters.
One of the contentious issues is the GENIUS Act. The ABA criticized the OCC for tying charter approvals to this bill, which still requires several federal agencies to complete supporting regulations, and full implementation could take years. The ABA is concerned that issuing licenses prematurely, before the regulatory system is fully developed, could increase bankruptcy and liquidity risks.
Currently, Ripple’s application is the most closely watched. The company previously received conditional approval from the OCC, which was seen as a step away from full licensing. This development has triggered strong opposition from the ABA. Additionally, World Liberty Financial has also applied to become a federally chartered national trust bank, sparking controversy in political circles.
Besides these companies, Circle, BitGo, Paxos, and Laser Digital, a subsidiary of Nomura Securities, have also been mentioned as relevant cases. The ABA also warned that some crypto institutions might bypass restrictions on interest income outlined in the GENIUS Act through affiliated platforms, creating regulatory arbitrage.
This incident indicates that the battle between the US crypto finance sector and the traditional banking system is escalating. As legislative and regulatory processes continue to advance, whether the OCC will adjust its review pace will directly impact the institutionalization of the US digital asset industry.
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