We got approved to be a Bank, but don;t call us a Bank!

Crypto exchange Coinbase has received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Coinbase National Trust Company - aka become a bank.

That said, CoinBases states "Coinbase is not becoming a commercial bank. We will not be taking retail deposits. We will not be engaging in fractional reserve banking."

Coinbase sees this as the next step in providing federal regulatory uniformity and clear oversight over digital assets. https://www.coinbase.com/blog/coinbase-receives-conditional-occ-approval-building-the-future-of-finance
#CoinBase #DigitalAssets #Crypto #CryptoCurrencies #StableCoins #OCC #CryptoRegulation #Bank #Banking