US Banks Urge Regulator to Delay Crypto Charter Approvals
A coalition of U.S. banks has asked a federal regulator to delay approving crypto-specific bank charters, arguing that persistent regulatory gaps could create supervision, compliance and consumer-protection risks. The request arrives as crypto companies intensify efforts to obtain clearer footing in the traditional banking system, seeking deposit-taking powers and access to payment rails that would broaden their services. If regulators heed the banks’ concerns, approvals could be slowed or conditioned on new guidance, complicating fintech and crypto firms’ plans to expand. The dispute underscores a broader policy clash over how and when to integrate crypto into mainstream finance; the outcome will shape market access, compliance costs and where crypto businesses choose to domicile or partner with incumbents.