Office of the Comptroller of the Currency

The U.S. Office of the Comptroller of the Currency, or OCC, regulates national banks and federal savings associations and serves as a key gatekeeper for banks entering the digital-asset business. The OCC has recently approved applications by Circle and other companies to establish national trust banks, accepted applications to convert fintech bank charters, required stablecoin issuers to file regular reports and pressed banks to improve their anti-money-laundering programs. Its decisions affect stablecoin issuance, competition among crypto banks and the division of regulatory authority between federal and state governments. They also face congressional scrutiny and legal disputes.