🇺🇸TODAY: OCC says final GENIUS Act stablecoin rules to be ready by November. OCC Comptroller Jonathan Gould says the agency expects to finalize the rules before November, with stablecoin issuer applications potentially opening in 2027 as the law takes effect.

The OCC says America is "open for business" for digital asset banks. Companies working with digital assets and novel technologies should have a path to becoming national banks. The OCC has received 40 new bank applications in the past 18 months.

Revolut just won conditional OCC approval to form a U.S. national bank. Meanwhile, many MSBs still have extremely limited banking options and pay a premium for the few banks willing to take them on. Chokepoint's not dead yet, but maybe soon?

🇺🇸BREAKING: Revolut WINS conditional OCC Bank Charter. Revolut has secured conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to form a National bank, a major step towards bringing the British giant's banking operations to the U.S. If it clears the remaining FDIC, Federal Reserve and final OCC approvals, Revolut Bank US could launch in 2027, offering loans, credit cards and FDIC-insured deposits alongside access to stablecoins and cryptocurrencies.

This week the OCC granted conditional approval for a full-service U.S. national bank charter application to @OpenReserveBank. Founders Dee Choubey and Rick Correia discuss designing a financial institution around 24/7 settlements, stablecoins, tokenized deposits, and onchain capital markets. 00:00 Introduction 01:17 Why now is the time to build a new bank 06:24 What a bank actually does 10:11 Rebuilding the bank core like an L1 32:43 What makes a founder partnership work 35:54 Why they decided to build another company 40:46 Building a bank for stablecoins 45:20 Stablecoins, tokenized deposits, and lending 56:04 Forward-deployed bankers & institutional sales 1:00:13 Why American capital markets matter 1:03:39 What Open Reserve plans to build next @deechoubey @guywuolletjr

With the OCC awarding World Liberty Financial a trust bank charter, can we blame voters (including Republicans btw) who think crypto is a scam & policymakers are rigging the game to benefit themselves? A majority of American voters of *both* parties think crypto has too much influence in DC, don't trust laws shaped by policymakers who stand to benefit personally: Crypto has undeniably become a powerful force in Washington DC and on Capitol Hill, thanks to the money bazooka industry lobbyists have deployed in recent election cycles against crypto skeptics and in favor of those supportive of the industry. But most everyday Americans -- both Democrats and Republicans -- remain highly skeptical of crypto, as a category, and particularly the industry's influence in DC, according to the results of a recent bipartisan poll by Lake Research Partners and Chesapeake Beach Consulting. The online survey of 1,000 likely midterm voters was conducted from May 15-21. It found that: -overall, 66% of respondents said the crypto industry has "too much" influence in Washington, including 60% of self-identified Republican respondents. -80% of respondents said they were "very" or "somewhat" concerned about cryptocurrency donations influencing legislation (89% of Democrats, 75% of independents/weak partisans, 75% of Republicans) -74% of respondents said they "somewhat" or "strongly" distrust crypto laws that are shaped by government officials that are benefitting from crypto (81% of Democrats, 68% of Republicans) -62% of respondents said they'd be less likely to vote for a candidate that takes significant money from the crypto industry -58% (including 51% of Republican respondents) agreed with the statement that "Cryptocurrency is an unregulated unstable market filled with fraud and scams"