Latest OCC Crypto Bank Approval Hints At Post-Trump Future

Law360 (February 10, 2021, 8:24 PM EST) -- The Office of the Comptroller of the Currency's recent move to welcome another cryptocurrency company to the federal banking system signals that the agency's embrace of the digital asset class may survive beyond the Trump administration, financial services attorneys told Law360.

The OCC announced on Feb. 5 that it was conditionally approving an application by Protego, a Seattle-based provider of cryptocurrency custody and trading services, to become a federally chartered trust bank operating nationwide under the agency's oversight.

It's only the second time that the OCC has granted such approval to a crypto-focused company, and it's also the first since the exit...

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