Coinbase has urged top US banking regulators to clarify that banks can provide crypto-related services.
The company sent a letter to the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) requesting policy changes. This move comes as concerns over crypto debanking gain momentum in Washington.
Coinbase Challenges Regulatory Barriers
Coinbase contacted regulators to receive verification that banks should be able to handle cryptocurrency execution services together with custody responsibilities.
The company demands that the OCC update its interpretive letter because it establishes illegal roadblocks in bank operations. According to Coinbase, the interpretive letter presents an unapproved evaluation process that violates the Administrative Procedure Act by lacking proper rulemaking.
Coinbase demanded that both the Federal Reserve and FDIC institutions provide assurance that state-chartered banks can offer cr
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