U.S. OCC Chief: There is no reason to treat banks and crypto institutions differently

The Acting Comptroller of the Currency (OCC), Jonathan Gould, stated that cryptocurrency companies applying for federal bank charters should receive "equal treatment" as traditional institutions, with no reason for artificial regulatory distinctions.

He noted that digital asset custody and secure storage are not new concepts, and their electronic operations "have been ongoing for decades." Gould emphasized that the banking system has the capability to evolve from the "telegraph era to the blockchain era" and should not be confined to past technologies and business frameworks.

He revealed that the OCC has received 14 new bank applications this year, including new business entities involving digital assets, which is nearly equivalent to the total number of similar applications over the past four years, indicating a significant increase in demand.

Gould believes that allowing institutions engaged in cryptocurrency and innovative technologies to obtain federal oversight is a necessary path to ensure that the financial system continues to evolve in sync with the modern economy. He also addressed concerns from some banks about cryptocurrency companies obtaining charters, stating that the regulatory framework is fully capable of overseeing them.