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Traditional banks are pushing the OCC to delay approving national bank charters for crypto firms like Ripple and Circle. Lobbying groups argue the applications lack transparency and raise policy concerns. The move could impact the future of stablecoin regulation.
- Banking associations argue crypto firms' charter applications lack transparency and could deviate from OCC precedent.
- Circle's proposed trust bank would oversee USDC reserves, while Ripple's application supports its RLUSD stablecoin launch.
- The OCC faces pressure to balance innovation with regulatory scrutiny as crypto firms seek traditional banking charters.
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