OCC Reopens National Bank Applications; 40 Submissions Received in Past 18 Months

The OCC confirms a decade-long freeze on new bank charters has ended, allowing digital asset firms to apply. Forty applications have been processed recently with decisions issued within 120 days.

Woofun AI reports that the Office of the Comptroller of the Currency has lifted a regulatory barrier that prevented new bank applications for over a decade. Jonathan Gould, director of the OCC, stated that entities engaged in legally licensed activities, including digital assets and emerging technologies, now possess the option to seek national bank status. The agency has received 40 applications for new banks during the past 18 months, noting that decisions are rendered within 120 days for many complete submissions.