Coinbase Bank Gets Full OCC Approval as Ripple Leads Crypto Banking Push
Key Summary
Thai regulators filed criminal charges against Bitget for operating an unlicensed exchange, forcing local banks to cut fiat payment channels. Meanwhile, Coinbase and Ripple secured federal national trust bank charters from the OCC, accelerating digital asset integration into traditional banking systems.
Key Bullets
- Coinbase secured a national trust bank charter from the Office of the Comptroller of the Currency effective November 6.
- Ripple completed its national trust bank charter on October 26 to manage segregated reserves backing RLUSD stablecoins.
- The Independent Community Bankers of America filed a federal lawsuit against the OCC to block national trust charters for crypto firms.
- Thai regulatory authorities filed a criminal complaint against Bitget for operating brokerage services without a valid domestic license.
OCC Grants Coinbase National Trust Charter
Coinbase secured full approval for its national trust bank charter from the Office of the Comptroller of the Currency, with federal records marking the status effective on November 6. The regulatory milestone brings the exchange closer to the center of the US financial system after the agency granted conditional clearance back on April 2. Federal filings from Coinbase indicate that 99% of total customer capital sits locked inside offline cold storage vaults following a catastrophic $6.3B security breach at rival international venues.
The federal charter allows Coinbase to operate its national trust company under direct federal supervision. Institutional clients gain access to regulated custody and fiduciary services through Coinbase Prime. The approval process began when the company submitted paperwork in October 2025, running parallel to intense regulatory scrutiny across international jurisdictions.
Ripple Precedes Coinbase In Federal Banking
Ripple completed a similar regulatory journey weeks earlier when the OCC finalized its national trust bank charter on October 26. Ripple National Trust Bank manages segregated reserves backing RLUSD while providing fiduciary digital asset custody and collateral trustee services.
Standard Custody Trust Company continues issuing RLUSD under New York regulations. The additional federal charter places another layer of oversight around reserve management. Two major digital asset firms now hold federal banking privileges while token Terminal metrics show tokenized stock volume reached 26.7% of total DEX activity.
Community Bankers File Federal Lawsuit
Traditional lenders launched a legal challenge against the federal regulator over the digital asset trust approvals. The Independent Community Bankers of America filed a lawsuit against the OCC on October 2 to block the expansion of national trust charters to crypto firms.
Court filings indicate that the banking association accuses the regulator of exceeding statutory authority. The lawsuit claims digital asset firms receive federal banking credibility without meeting standard FDIC insurance requirements or Community Reinvestment Act obligations, setting up a prolonged legal battle in federal court.
Criminal Complaint Filed Against Bitget
Thai regulatory authorities filed a formal criminal complaint against crypto exchange Bitget for operating commercial brokerage services without a valid domestic license. Public filings lodged with the Cyber Crime Investigation Bureau outline direct violations of the Emergency Decree on Digital Asset Businesses.
Investigators discovered that the platform failed to submit required compliance documentation before established statutory deadlines. Domestic commercial banks received immediate directives from financial intelligence units to sever payment routing rails and fiat deposit channels linked to the targeted platform as regional traders migrate balances.
Impact score:4 out of 5 | Narrative Tracker:Regulatory Clarity & Legal Enforcement
About CryptoNewsFree Market Intelligence Wire
The CryptoNewsFree Market Intelligence Wire provides rapid, objective coverage of breaking crypto developments, regulatory actions, and market liquidity trends. Our reporting strictly follows our Editorial & Verification Standards.