Coinbase has received final approval from the Office of the Comptroller of the Currency to operate Coinbase National Trust under a federal national trust bank charter. The definitive authorization, following provisional approval in April, allows the exchange to provide federally regulated custody and payment services, but not to accept customer deposits or issue loans. Coinbase now joins Ripple, whose national trust bank received the OCC’s final approval the previous month. The move follows the passage of the GENIUS Act as the OCC has become more receptive to cryptocurrency firms, despite opposition from the Independent Community Bankers of America.
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