OCC Strikes Back: Crypto Banks Rise, Choke Point Chokes! 🤑

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Darling, gather ’round! The Office of the Comptroller of the Currency (OCC) has finally waved its magic wand and bestowed upon us five sparkling new national digital currency banks. 🌟 A bold stroke, if I do say so myself, that utterly thwarts the dastardly Operation Choke Point 2.0, that ghastly little scheme of the Biden administration which left crypto projects gasping for air like a fish out of water. 🐟

OCC Gives the Nod to Five Digital Darlings

According to the announcement, the OCC has issued a conditional approval to five national digital currency banks. Voilà! These five nouveau institutions join the ranks of 60 other trust bank charters, because why stop at one when you can have a whole bouquet? 💐

And who, you ask, are these lucky five? Allow me to present them with all the fanfare they deserve:

  • First National Digital Currency Bank. 🏦
  • Ripple National Trust Bank. 🌊
  • BitGo Bank & Trust. 🚀
  • Fidelity Digital Assets. 📈
  • Paxos Trust Company. ✨

“New entrants into the federal banking sector are good for consumers, the banking industry, and the economy,” declared Jonathan Gould, Comptroller of the Currency, with all the gravitas of a man who knows he’s just changed the game. “The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy.” Bravo, darling, bravo! 👏

A Leap for Crypto, a Stumble for the Naysayers

This approval is nothing short of a triumph for the crypto industry, which has been through the wringer lately. The collapse of Signature Bank, Silvergate Bank, Synapse Financial Technologies, and Custodia Bank left crypto liquidity in a state of disarray, like a cocktail party without the cocktails. 🍸

But fear not, my dears, for under the watchful eye of President Donald Trump, the crypto industry has flourished like a rose in June. 🌹 The conditional approval of these five national digital currency banks has coincided with the Fed’s monetary policy change, which involves liquidity injection through its Quantitative Easing (QE) and interest rate cuts. It’s all rather splendid, don’t you think? 🎉

So, raise your glasses, darlings, to the OCC and its latest stroke of genius. The crypto world is back, and it’s more fabulous than ever! 🥂

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2025-12-12 23:07