OCC grants Anchorage First Federally Chartered Bank
So the City of Anchorage has a federal charter? - negative ghost rider! The Crypto custodian Anchorage has been granted that conditional approval! One could think of this as a National Bank w/ Crypto services.
Today the U.S. Office of the Comptroller of the Currency (OCC), granted conditional approval for Anchorage making it the first national “digital asset bank” in the U.S! A Huge Leap for the US in the right direction! Wonder when the Kraken charter will get the nod?
Does this result in easing of US Regulations? Nope, just they have figured out how to include digital/crypto assets.
Who is Anchorage? They are a national bank. And “The benefit of having a federally chartered bank is that it preempts all the state laws." The most recent 13-F filing I read showed they had $28,296,069,829 Assets Under Management (AUM). You can learn more about them - https://anchorage.com/
What does the National Charter provide? A national charter will allow businesses to operate throughout the country at once.
Who else has filed for National Charter? Kraken & Avanti filed Nov. '20 for special purpose depository institutions under Wyoming law. While BitPay and Paxos also filed w/ the OCC for National Charter status.
Summary - IF Brian Brooks time is limited at the OCC this would be a hard item for his replacement to unwind. I hope this sets a precedence moving forward.
Enjoy the Journey!