OCC’s Hsu: Recent Approvals of Crypto Charters ‘On the Table’ for Review

As the OCC reviews recent interpretive letters on digital assets and trust charters, “everything’s on the table,” current Acting Comptroller Michael Hsu told reporters during a press briefing today—including reviewing provisional approvals already granted under prior acting agency leadership.

“Charters that were in the pipeline as well as those that were conditionally approved” are “in the scope of the review,” Hsu said. For example, cryptocurrency firms Anchorage, Paxos and Protego have received conditional approvals for national trust charters to custody digital assets.

Hsu expanded on his recent congressional testimony, arguing that regulatory agencies need to work together on “an overall strategy and overall view about where the regulatory perimeter should be set” for innovative financial business models, ensuring that “all of these individual decisions fit and are in broader alignment with those strategies.” As a member of the FDIC board and of the Financial Stability Oversight Council, Hsu said “I want to use all the seats I have” to pursue that strategy.