Crypto. com Gains New Banking License Under U. S. Rules

A crypto company has earned a conditional green light from the federal banking regulator to operate as a national trust bank. The approval lets it hold digital assets, manage staking and settle trades under federal oversight. Crypto. com’s new charter, called Foris Dax National Trust Bank, could become a trusted custodian for major institutions once the final approval is granted. This move follows a trend where several crypto firms—Circle, Ripple, Paxos and others—have also received similar conditional approvals. The push began after the Office of the Comptroller of the Currency (OCC) said banks can hold crypto for customers, and after lawmakers signed the GENIUS Act to regulate stablecoins.Not everyone is cheering. Traditional banks are asking for a slower pace and more clarity in the approval process, saying safety standards must be solid. The American Bankers Association wants greater transparency from the OCC. The debate also touches on a new bill, the Clarity Act, which would set rules for crypto markets and stablecoin returns. The stablecoin market is now worth about $309 billion, showing how big the sector has become.