TechFlow, on November 5, the Independent Community Bankers of America (ICBA) recently urged the Office of the Comptroller of the Currency (OCC) to reject the national trust bank charter application from Coinbase National Trust Co., a subsidiary of Coinbase, stating it fails to meet statutory standards and could set a dangerous precedent for the structure of the U.S. banking system. In response, Coinbase Chief Legal Officer Paul Grewal said ICBA's position effectively seeks to keep cryptocurrency in an "unregulated" state, reflecting how banking lobbyists attempt to protect their own interests through regulatory barriers.
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