NEW: The OCC conditionally approves Augustus Bank NA under the GENIUS Act framework, making it one of the first national banks focused exclusively on fully reserve-backed stablecoins and AI-based compliance.

BlackRock just asked the OCC to remove the 20% cap on tokenized reserves, pushing for more assets to move onchain under the GENIUS Act. Trillions in assets are coming onchain. The real question is: what makes them usable once they’re here?

Paxos crypto brokerage is now federally regulated across all 50 states. Built on an OCC trust charter, it gives partners one supervisor, one standard and a unified path to scale nationwide.

Consensys has filed a comment on the @FDICgov's GENIUS Act proposal, outlining four areas that need refinement. This filing, alongside our OCC and Treasury comments, marks the start of a broader conversation with federal banking agencies on getting the GENIUS Act rules right. Read our full comment letter:

Stablecoins are the future of money with $310B in circulation, $33T in transactions per year. Congress got it right with the GENIUS Act. Now the OCC needs to get the regulations right too. My 3 suggestions with @kerpen:

In 2022 I'd dropped of college recently (with a full-time job). A little later I had an offer to work at Tether and another to work in IB at JPM. I'm pretty sure my dad would've been a little more thrilled to see me go into banking than work remote for a crypto company. I was totally convinced stablecoins were the future and took the Tether job -- anyways, now a couple years later at Agora we just announced we're filing for a bank charter with the OCC. "All roads lead to Rome."

Wall Street's crypto infrastructure is here. This bonus episode of CoinDesk's Public Keys at the @NYSE from @Consensus2026 features @Grayscale's Krista Lynch on the evolution of crypto ETFs, @MorganStanley's Amy Oldenburg on MSBT becoming the firm's most successful ETF launch ever, and @BitGo CEO Mike Belshe on the firm's public journey. Watch with @JennSanasie. Chapters/Timecodes: 00:00 Welcome to Public Keys: A Bonus Episode from Consensus 00:55 Grayscale's Krista Lynch Joins Public Keys 01:30 Eight Single-Token ETFs and the Rise of Crypto Indexing 02:20 In-Kind ETF Creation Brings Crypto Whales to Wall Street 04:00 Why Crypto Whales Want ETF Exposure 06:00 Advisor Education and the State of Crypto Onboarding 07:00 Staking Comes to the ETF Wrapper 08:30 Morgan Stanley's Amy Oldenburg Joins Public Keys 09:00 The 50 bps Spot Crypto Trading Fee 10:00 Top-of-House Alignment at Morgan Stanley 11:00 What Was Happening Behind the Scenes in 2024 12:30 MSBT: $230M and Morgan Stanley's Most Successful ETF Launch Ever 14:00 Over-Hyped or Underrated: $1B in MSBT by Year-End 16:00 BitGo CEO Mike Belshe Joins Public Keys 17:00 Four Months Into Life as a Public Company 17:30 The Institutionalization of Crypto Infrastructure 18:30 Why the Genius and Clarity Acts Matter 20:30 Coinbase Still Charges Retail 130 bps 22:30 BitGo's OCC Charter and the Future of Reserve Banking 23:30 What the Clarity Act Actually Changes 24:30 TradFi Is Waiting for the Legislative Stamp of Approval