Coinbase's OCC Trust Charter: Big Win or Regulatory Fig Leaf?
Coinbase just got the OCC's nod for a national trust charter — holding over $250 billion in crypto custody assets. Skeptical vets like me wonder: does federal uniformity really help users, or just Coinbase's bottom line?
⚡ Key Takeaways
- Coinbase's conditional OCC trust charter brings federal uniformity to its $258B custody business, preempting state regs. 𝕏
- This positions Coinbase to dominate crypto custody, squeezing smaller players like in historical banking consolidations. 𝕏
- Users get more oversight but higher compliance costs; real winners are Coinbase execs and institutional clients. 𝕏
Worth sharing?
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Originally reported by The Block
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