OCC’s Jonathan Gould Warns Against Slowing Crypto-Focused Bank Charters

The U.S. banking sector’s hesitation toward approving trust bank charters for digital asset firms could undermine financial innovation, according to Jonathan Gould, chief of the Office of the Comptroller of the Currency (OCC). Speaking at the Blockchain Association’s policy summit in Washington, Gould emphasized that resisting crypto-focused banking applications “risks reversing innovations” at a time when the industry is rapidly evolving.

Gould noted that traditional banks are actively exploring digital asset products, with the OCC hearing from institutions “on a near daily basis” about new technologies and services. This growing interest reinforces his confidence in the OCC’s ability to supervise both new digital asset entrants and evolving activities within established banks in a fair, consistent manner.

After years of slowed progress, applications for de novo bank charters have begun to rise again, reaching 14 in the past year. Many of these applicants are tied to digital assets and fintech sectors. Gould stressed that there is “no justification for considering digital assets differently,” arguing that banks should not be constrained by outdated technology or limited business models as blockchain-based services become more mainstream.

The OCC, which remains the only federal authority capable of issuing national bank charters, had previously been cautious about approving charters for crypto firms. Anchorage Digital was the sole federally chartered crypto bank for years. However, momentum has shifted, highlighted by the provisional charter granted to Erebor last month—the first approved under Gould’s leadership.

Gould also revealed that the OCC and Federal Deposit Insurance Corp. (FDIC) are preparing regulatory updates aimed at eliminating “reputation risk” from supervisory frameworks, signaling a more supportive stance toward crypto banking. He added that the agency is reviewing bank “debanking” practices that have affected crypto companies and their executives, emphasizing that the financial system must evolve “from the telegraph to the blockchain” to remain competitive.