The U.S. Office of the Comptroller of the Currency (OCC) is leading financial shifts in 2025, signaling increased adoption of cryptocurrency and blockchain into traditional banking systems. This new approach, championed by Jonathan V. Gould, Comptroller of the Currency, underscores the regulatory body’s commitment to modernizing banking infrastructure with financial innovations such as digital assets.
Addressing the Slowdown in De Novo Bank Charters
In a keynote speech delivered at the December 8 Blockchain Association Summit, Gould highlighted the stagnation in new bank formations over the past 15 years. During this period, annual de novo bank applications dropped from over 100 in the late 1990s to only 4 per year from 2011 to 2024. Gould attributed this decline to discouraging regulations—where potential applicants faced delays or rejections without adequate justification.
“We are reversing this trend by fulfilling our congressional mandate as the sole federal chartering agency,” Gould emphasized. Already in 2025, the OCC has received 14 de novo charter applications, equal to the total number of applications from the previous four years combined. Notably, some applications include entities employing digital asset-related activities, setting the foundation for a dynamic shift in the financial sector.
Digital Assets in Banking: A New Frontier
Gould emphasized that the OCC supports the authority of national banks to hold and manage digital assets. From his perspective, the handling of nonfiduciary custody—where banks safeguard customers’ assets without assuming full fiduciary control—has already been a decades-long standard. Currently, national trust banks oversee $2 trillion in nonfiduciary custodial or safekeeping assets. Gould argued digital assets should be treated no differently than traditional assets, a progressive step that reflects the evolving digital economy.
“Restricting national banks to legacy technologies or practices is outdated. Banks must be allowed to innovate, embrace modern digital assets, and adapt to blockchain ecosystems,” Gould stated. His position aligns well with the increasing industry demand for clarity and adaptability in regulations, enabling seamless integration of blockchain technology across the banking landscape.
Regulatory Clarity Driving Innovation
Under the second term of U.S. President Donald Trump and with the implementation of laws such as the GENIUS Act, significant strides have been made to provide regulatory clarity around digital assets. This includes guidelines enabling banks to custody cryptocurrencies, manage stablecoin reserves, and participate in blockchain networks. Regulatory agencies such as the OCC, FDIC, and the Federal Reserve have eased restrictive guidance, paving the way for rapid innovation.
Gould also highlighted the OCC’s capability to oversee cryptocurrency operations. “The OCC has years of hands-on experience with crypto-centric trust banks, and we are now seeing enthusiasm from traditional national banks exploring blockchain-based products and services.”
Lifestyle Impacts: Making Crypto Accessible
With these developments, blockchain technology and cryptocurrencies are becoming more relevant for everyday consumers and investors. This regulatory clarity could simplify access to digital assets for individuals looking to diversify their financial portfolios or explore blockchain-driven applications.
If you’re interested in managing and safeguarding your crypto-assets, products like the Ledger Nano X hardware wallet provide a secure and user-friendly solution. With its integration capabilities and double-layered security, it’s a must-have for anyone navigating this digital transition.
The OCC’s renewed openness to innovation and technology presents an exciting era for financial institutions and consumers alike. As banking evolves to include digital assets, the potential for widespread crypto adoption grows, reshaping the financial industry as we know it.
