PANews February 12 News, according to Cointelegraph, the American Bankers Association (ABA) has urged the Office of the Comptroller of the Currency (OCC) to slow down the approval of national trust bank licenses for crypto and stablecoin companies until the regulatory framework of the GENIUS Act is fully clarified. ABA warned that current applicants still face unresolved federal and state regulatory obligations, and that digital asset trust banks without deposit insurance pose risks such as customer asset segregation and conflicts of interest. The association also reminded that such licenses could be used to circumvent SEC or CFTC regulations. ABA called on the OCC to increase transparency regarding capital and operational standards and to prohibit non-bank entities from using the word “bank” in their names to reduce consumer confusion risks.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
[Token Analysis] Stablecoins: Payments, Investments, or Rewards? The Impact of the U.S. Tertiary Classification System
The document "Bank Deposit Stability and Stablecoin Yields" submitted by the U.S. SEC proposes a three-tier classification system for stablecoins and provides detailed regulatory frameworks and auditing standards. It offers valuable insights for stablecoin regulation in South Korea and emphasizes the importance of creating regulatory tools that adapt to new technologies.
TechubNews46m ago
UK Selects Firms for Stablecoin Regulatory Sandbox, Including Revolut
The FCA has selected four firms, including Revolut, to join a regulatory sandbox for stablecoins. This initiative will allow real-world testing of stablecoin products and inform upcoming UK regulations.
Decrypt5h ago
Indian Court Rejects Crypto Investors’ Plea for Action Against Bitbns
_Court says private crypto exchanges fall outside writ powers, pushing investors to civil and criminal legal routes._
India’s crypto dispute over Bitbns has taken a decisive legal turn. Delhi High Court declined to intervene in investor complaints seeking a CBI probe and fund recovery. Judges
LiveBTCNews6h ago
South Africa plans to revise regulations to include crypto assets in the capital flow management framework
South Africa's Finance Minister announced the inclusion of crypto assets in the "Currency and Exchange Act," improving cross-border capital regulation, responding to court rulings, and strengthening anti-money laundering measures. This ends the ambiguity in foreign exchange regulation and provides a legal basis for residents to participate in the global crypto market.
GateNewsBot7h ago
SBF continues to futilely seek a pardon, but the White House has made it clear that Trump has no intention of granting him one.
SBF called on Trump to support the "Cryptocurrency Market Structure Act" on Twitter and mentioned his confrontation with the former SEC chairman. SBF is seeking a pardon, but the White House has stated that Trump has no intention of pardoning him. This message was reposted by his friend.
GateNewsBot9h ago
What signals did the US SEC send behind the new 2% discount regulation for stablecoins?
The U.S. Securities and Exchange Commission (SEC) issued guidance on payment stablecoins on February 19, allowing broker-dealers to treat stablecoins with a 2% discount when calculating net capital, thereby giving them a legitimate status in capital calculations. This adjustment helps to integrate stablecoins into the mainstream financial system and promotes digital asset trading and services. Peirce's statement and the GENIUS Act could potentially change the market landscape, although federal and state frictions still exist. Nonetheless, this move paves the way for regulatory integration of stablecoins.
区块客9h ago
