{"id":41330,"date":"2021-04-23T20:31:14","date_gmt":"2021-04-23T17:31:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41330"},"modified":"2025-08-30T18:18:58","modified_gmt":"2025-08-30T15:18:58","slug":"paxos-secures-conditional-national-bank-license","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/paxos-secures-conditional-national-bank-license\/","title":{"rendered":"Paxos Secures Conditional National Bank License"},"content":{"rendered":"<p>The Office of the Comptroller of the Currency (OCC), part of the U.S. Treasury, has approved Paxos&#8217; application for a nationwide trust bank license. <a href=\"https:\/\/www.coindesk.com\/paxos-becomes-third-federally-regulated-crypto-bank\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CoinDesk<\/a> reports this.<\/p>\n<p><!--more--><\/p>\n<p>The company has eighteen months to meet all regulatory requirements. After that, the OCC will issue a permanent license to operate in all states.<\/p>\n<p>Paxos <a href=\"https:\/\/u1f987.com\/en\/news\/paxos-applies-for-national-bank-charter\">filed an application<\/a> in December 2020. At that time the company was regulated by the New York State Department of Financial Services as a trust company.<\/p>\n<p>Earlier, the Wyoming Banking Board granted the <a href=\"https:\/\/u1f987.com\/en\/news\/kraken-becomes-the-first-us-crypto-exchange-to-obtain-spdi-status\">Bitcoin exchange Kraken<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-startup-avanti-caitlin-longs-venture-gains-u-s-bank-status\">cryptocurrency startup Avanti<\/a> the status of a special-purpose depository institution with the functions of a traditional financial institution.<\/p>\n<p>In January 2021, the OCC <a href=\"https:\/\/u1f987.com\/en\/news\/anchorage-becomes-the-first-federally-chartered-digital-asset-bank-in-the-united-states\">approved the custodian&#8217;s<\/a> Anchorage&#8217;s application for a nationwide &#8216;digital asset bank&#8217; license.<\/p>\n<p>In February, Protego Trust Bank <a href=\"https:\/\/u1f987.com\/en\/news\/protego-trust-bank-wins-second-u-s-national-digital-asset-bank-charter\">received the second in the United States<\/a> license for a federal crypto bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Office of the Comptroller of the Currency (OCC), part of the U.S. Treasury, has approved Paxos&#8217; application for a nationwide trust bank license.<\/p>\n","protected":false},"author":1,"featured_media":41331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1504,36,26],"class_list":["post-41330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-paxos","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=41330"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41330\/revisions"}],"predecessor-version":[{"id":41332,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41330\/revisions\/41332"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/41331"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=41330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=41330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=41330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}