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Coinbase urges US regulators to allow bank crypto services

Coinbase is pushing US regulators to let banks offer crypto custody and trading services.

The exchange has sent letters to the Office of the Comptroller of the Currency (OCC), Federal Reserve, and Federal Deposit Insurance Corporation (FDIC), urging them to revise rules that, according to Coinbase, are blocking banks from entering the crypto market.

It specifically wants the OCC to remove a rule that adds extra hurdles for banks handling digital assets.

Coinbase also asked the Fed and FDIC to confirm that state-chartered banks can provide and outsource crypto-related custody and trading services.

Three law firms backed this request, arguing that existing laws already allow such partnerships.

Coinbase has long fought for clearer banking rules for crypto firms, and this push comes ahead of a Senate hearing on “debanking.”

Recent Coinbase developments

Timeline
03-Feb-2025 📈 Coinbase buys on-chain ad platform Spindl
  • Coinbase acquires Spindl for on-chain ads.
  • Spindl to operate under Base Ethereum network.
22-Jan-2025 🚀 Coinbase CEO says Trump will fuel crypto investing
  • Trump’s presidency may boost crypto investments
  • Legislative changes could drive new market growth
19-Dec-2024 ⚖️ Coinbase dismisses BiT Global’s lawsuit over wBTC delisting
  • Coinbase dismisses lawsuit over wBTC delisting.
  • Claims called ‘bogus’ by legal officer on X.
03-Dec-2024 💳 Coinbase integrates Apple Pay to simplify crypto purchases
  • Coinbase adds Apple Pay for crypto purchases.
  • Sign of possible shift in Apple’s crypto policy.

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