Regulation· ★★★★· neutral· October 28, 23:21

US banking group ICBA opposes OCC approval of Ripple trust bank

—ICBA objected on October 27, a day after the OCC granted final approval
—The bank will manage RLUSD reserves and provide fiduciary crypto custody
—ICBA cited Ripple's $700,000 FinCEN penalty from 2015
—ICBA sued the OCC in October over its national trust charter rules

Why it matters: The dispute sets a precedent for whether crypto firms can obtain federal banking charters in the US.

Source: The Crypto Times

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