Zerohash back for second effort at OCC trust bank charter
Crypto-infrastructure firm Zerohash has refiled its application for a national trust bank charter with the US Office of the Comptroller of the Currency (OCC) after its first attempt was returned. The new application features a narrower scope as the company seeks to align with regulatory expectations.
Why it matters
The move highlights the ongoing regulatory challenges faced by crypto-native firms attempting to integrate into the traditional US banking system.
The U.S. Office of the Comptroller of the Currency, which regulates and charters national banks and trust companies, had formally returned the Chicago-based firm's first application last month, meaning the effort had some material deficiencies. But Zerohash said it would be quickly starting a new application with a significantly narrower focus.
That trust application is now awaiting the OCC's review, and a public comment period is open until September 17. Many other crypto-native firms have recently received preliminary trust charters, and two were denied, but this is the only one returned.
A spokesperson for the company told CoinDesk earlier this month that they intended to refile again in August, but that it would be less ambitious and represent "a more focused approval of national trust activities aligned with our intended rollout timeline." However, neither Zerohash nor the OCC responded to requests for comment on this new effort.
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