On April 2, Coinbase announced that it had received conditional approval from the Office of the Comptroller of the Currency (OCC) to operate as a trust bank. The company’s Chief Legal Officer stated that if final approval is granted, this cryptocurrency exchange will be able to operate payment products under federal regulation, in addition to its custody services. “In the long term, we will be able to work with the OCC to explore not only offering custody products but also other infrastructure products, particularly those around the payments space. We believe this will expand cryptocurrency payments into various new, interesting, and important directions.” (CNBC)
Coinbase clears a key regulatory hurdle in advancing its stablecoin business.
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