Regulation
Coinbase Has Joined the Banking Establishment. There’s a Catch.
For years, the cryptocurrency industry fought for a seat at the table of traditional finance. Coinbase has finally secured one. On November 6, the Office of the Comptroller of the Currency (OCC) finalized Coinbase’s national trust bank charter, transforming a conditional approval into federal authorization. It is a consequential milestone, placing Coinbase alongside Circle and Ripple in a rapidly expanding group of cryptocurrency companies operating within the federal banking framework. The obvious narrative is one of triumph: Crypto has finally won the legitimacy it spent years demanding. But the reality is considerably more complicated. Coinbase has acquired significant new opportunities...
International Policy Digest12 min read
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