The No Betting on Your Own Race Act will not be addressed before the 2026 US midterms as Congress is on recess until after the election.
Arbitrum Adds Paxos USDG to Tap Stablecoin Reserve Economics
- Arbitrum has joined Paxos’s Global Dollar Network and launched USDG natively on Arbitrum One.
- A governance proposal asks ArbitrumDAO to make USDG growth a strategic objective, add 100 million ARB to the DRIP incentive program and deploy treasury assets to support liquidity.
Arbitrum is trying to turn one of the largest stablecoin pools among Ethereum Layer 2 networks into a source of direct ecosystem economics.
The blockchain has joined Paxos’s Global Dollar Network, bringing Global Dollar, or USDG, natively to Arbitrum One. As a network partner, Arbitrum will participate in USDG’s economics, with rewards generated through adoption on Arbitrum directed back into the ecosystem.
The move matters because Arbitrum already hosts $3.78 billion in stablecoins. USDC controls 61.4% of that supply, with more than $2.3 billion circulating on the network, according to DefiLlama data.
Until now, Arbitrum benefited from the trading, lending and transactions that stablecoins generate, including network fees. But it did not directly participate in the reserve economics generated by the dominant stablecoins held on the network.
“With its industry-leading technology and one of the most vibrant DeFi ecosystems in crypto, Arbitrum consistently drives massive demand for and transaction volume in US dollar-denominated stablecoins,” Steven Goldfeder, CEO and co-founder of Offchain, said in a statement shared with AlexaBlockchain. “For too long, though, none of that activity has happened in a dollar aligned with the ecosystem creating it.”
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Stablecoin Reserves Have Become Big Business
The economics behind the decision are significant.
Dollar-backed stablecoin issuers can earn income by investing reserves in cash, Treasury bills and other short-duration assets. Circle generated $668 million of reserve income in the Q2 2026 from assets backing USDC, while distribution, transaction and other costs reached $412 million.
Global Dollar Network is designed to distribute more of those economics to companies and platforms that help USDG grow.
USDG reserves are held in Treasury bills, money-market funds and cash or cash equivalents. Global Dollar Network partners can receive up to 100% of the reserve rewards generated by USDG balances on their platforms, alongside incentives tied to minting and usage.
The network had passed 150 partners and $3 billion in USDG circulation by July, and said it had distributed tens of millions of dollars in rewards to members. Partners include Kraken, OKX, Robinhood and other financial and crypto companies.
“There is about $4 billion of stablecoins held on Arbitrum. Until today, the ecosystem has not directly shared in the growth and economics of this asset class,” Brendan Ma, head of investment strategy at the Arbitrum Foundation, said.
“Over time, growth in stablecoin supply will become growth that the ecosystem participates in directly.”
Arbitrum Is Building Distribution Around USDG
Arbitrum is pairing the economic model with integrations intended to give USDG utility from launch.
USDG will trade through Fluid and can be deployed into Morpho vaults curated by Steakhouse and Gauntlet. Maple supports syrupUSDG, while GMX is building a dedicated USDG liquidity line with USDG as the sole stablecoin in its flagship GLV(USDG) vault.
Kraken will provide on- and off-ramps for USDG on Arbitrum, while Stargate will provide transfers between Arbitrum and other networks. Uniswap and Fhenix are among the integrations expected to follow.
The strategy could also receive substantial token incentives.
A governance proposal is asking ArbitrumDAO to make USDG growth a strategic objective, add 100 million ARB to the DRIP incentive program and deploy treasury assets to strengthen USDG liquidity. The proposal still requires governance approval.
Arbitrum has previously shown that targeted incentives can materially shift liquidity. Its first DRIP season deployed 14.6 million ARB, while dollar-denominated lending markets grew 38% to around $770 million and yield-bearing stablecoin supply increased from $130 million to more than $1 billion.
USDG Faces Much Larger Rivals
USDG is growing, but it remains far smaller than the dominant stablecoins.
The global stablecoin market currently stands at more than $307 billion. USDT accounts for $184.2 billion and USDC $74.3 billion, compared with $3.08 billion for USDG, according to DefiLlama.
The competitive battle, however, is increasingly moving beyond market capitalization and liquidity toward who receives the economics generated by stablecoin reserves.
Open USD, or OUSD, launched in September with backing from Coinbase, Mastercard, Shopify, Stripe and Visa. Businesses joining its Open Standard network can also earn rewards based on stablecoin activity, creating another distribution model that competes with traditional issuer-controlled economics.
USDG has already shown that this model can gain market share when a platform actively organizes its ecosystem around the stablecoin.
On OKX’s X Layer, USDG now represents more than 91% of the network’s $1.56 billion stablecoin supply. On Robinhood Chain, where USDG was the first natively issued stablecoin, it accounts for nearly 66% of the chain’s $1.08 billion stablecoin market.
Robinhood Chain also uses USDG in its onchain Earn product, providing an example of how a Global Dollar Network member can combine native issuance, distribution and financial products around the same stablecoin.
Arbitrum will be a tougher test.
Unlike a new blockchain where a preferred stablecoin can establish itself from launch, Arbitrum already has deep USDC and USDT liquidity, established trading pairs and mature DeFi markets. USDC alone represents more than 61% of its stablecoin supply.
The question is whether revenue sharing, liquidity incentives and coordinated integrations are enough to persuade protocols and users to shift meaningful balances toward USDG.
If they do, Arbitrum’s stablecoin base would become more than liquidity moving through the network. Part of the economics generated by those dollars would begin flowing back to the ecosystem hosting them.
Read Also: This is the First U.S.-Chartered Depository Bank to Offer Stablecoin Invoicing
Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.
Better Markets Says CFTC Is ‘Wrong Agency’ for Retail Crypto
Better Markets says the US derivatives regulator’s push to develop rules for certain retail crypto transactions could leave investors with weaker safeguards, arguing the agency is ill-equipped to oversee the market.
The Commodity Futures Trading Commission on Monday sought public comment on a potential framework for margined, leveraged or financed retail crypto transactions under its existing authority. Benjamin Schiffrin, director of securities policy at Better Markets, a nonprofit financial reform advocacy group, argued that CFTC oversight is less suited than the SEC to protecting retail investors.
“Unlike the SEC, the CFTC lacks an investor protection mandate. Its mission is to regulate the commodity and derivatives markets, which historically have been dominated by large institutions with very little retail investor participation,” said Schiffrin.
“Because the CFTC’s rules lack the protections that apply when investors trade securities regulated by the SEC, the CFTC is the wrong agency to regulate transactions involving crypto assets by retail customers,” he added.
Better Markets’ criticism comes as the CFTC and SEC move ahead with crypto policy under existing law after the CLARITY Act stalled in Congress. Both agencies had previously signaled they were prepared to act without new legislation.
Better Markets questions “crypto capital” goal
Better Markets also challenged the CFTC’s claim that Congress intended the agency to oversee these types of retail crypto transactions.
Schiffrin noted that the statutory authority cited by the CFTC was originally enacted to address fraud in leveraged precious-metals trading, and argued that this did not show an intent for the agency to become a primary regulator for retail crypto.
He also criticized the framework under consideration for potentially allowing affiliations between market participants that Better Markets said contributed to FTX’s collapse.
Related: Crypto PAC announces support for 32 House candidates in US midterms
Schiffrin also took aim at CFTC Chair Mike Selig’s statements about making the US the crypto capital of the world.
“Yet he does not explain why that is a good thing. For example, the US is not the cocaine production capital of the world, and no one is complaining—for good reason,” he said.
“Crypto—after 18 years of effort and innumerable disproved and baseless claims—still lacks any real-world use case. It is used either purely for speculation or for criminal purposes,” he said.
Nate Geraci, president of NovaDius Wealth Management, pushed back on the characterization, saying the crypto industry is simply seeking clear rules of the road and arguing that, if Congress cannot provide them, the CFTC and SEC may have to do so.
CFTC, SEC move ahead after CLARITY setback
The CFTC’s newly proposed crypto framework also considers a new federal category for crypto trading platforms that would bring qualifying exchanges directly under CFTC oversight.
Meanwhile, the SEC has also pushed ahead with several crypto measures. On Thursday, it proposed easing some custody rules for investment advisers, while separately allowing limited tokenized US stock trading and issuing new guidance on how securities laws apply to crypto.
Magazine: Too big to pause: Could an AI slowdown crash the economy?
US Crypto Rules Need to Survive the Next Election
Opinion by Andrew M. Cuomo, former governor of New York
The digital asset revolution is here, and it’s already transforming our financial system.
We’re no longer questioning if it will continue to develop. It will. The issue is whether the United States will establish clear, durable rules for it to develop here.
Right now, the answer is no.
The CLARITY Act was intended to solve this problem. It would have provided a national framework for digital assets, clarified the roles of federal agencies including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and given businesses, investors and consumers a clear understanding of the rules.
The House passed the CLARITY Act in 2025, but Congress has yet to send a bill to the president. The Senate failed to advance the Act in September, leaving most to wonder: what happens now?
Those same federal agencies have rushed in with new regulations that significantly restructure the market. Both the SEC and CFTC have been hyper-aggressive in promulgating new rules, filling the void left by Congress, proposing a new federal framework for crypto trading platforms and a bespoke regulatory regime for certain crypto assets.
In the short term, this is great, and we’ll see many new market opportunities as a result. But the reality is that these rules have been adopted in the absence of a market structure law enacted by Congress and rely on agencies’ existing statutory authority, lacking the durability of a new law.
More poignantly from the Democrats’ point of view, they were adopted despite congressional opposition. That means the rules are politically vulnerable from the start.
And hell hath no fury like a Congress scorned.
Related: Is there any chance left to save the CLARITY Act?
The next election could upend the rules
If prediction markets and current electoral trends are to be believed, Democrats will control one, if not both, houses of Congress after the midterms. And the power of Congress to derail and disrupt agency action should never be underestimated.
Democrats have a 64% chance of controlling the Senate. Source: Kalshi
I lived this dynamic when I was in the Clinton administration at the Department of Housing and Urban Development (HUD). The 1994 midterm elections swept Republicans into control of the House and Senate. The department’s power was greatly impeded. Oversight intensified, funding became leverage, and Congress used every tool at its disposal to challenge and constrain the administration. It’s what Congress does when it believes the executive branch has gone too far.
Democrats will be looking to prove their claims that the Trump administration was corrupt and that agency actions were designed to benefit individuals personally and political donors collectively. Whether those claims are fair or not, they will drive the politics. And the politics will drive the oversight.
The legislature has many tools at its disposal. Agencies must submit new rules and regulations before they take effect, allowing lawmakers to weigh in. They can limit funding for agency programs, pass legislation overriding agency actions, or use the Congressional Review Act to repeal certain regulations. Congress also has the power to investigate and issue subpoenas that can wreak havoc when coupled with public hearings. Just ask Anthony Fauci and Jack Smith!
Related: Crypto PAC announces support for 32 House candidates in US midterms
Congress must put politics aside
The overall challenge is that private sector technological innovation must be reconciled and aligned with intelligent government regulation. When the CLARITY Act failed, ambiguity prevailed. It’s bad for business, bad for investors, bad for consumers and bad for America.
Companies should not have to guess whether the rules in place today will survive the next election. They should not have to decide whether to build and invest in the United States based on which party controls Washington. They should know what is legal, what is prohibited, who regulates what and how the rules will be enforced.
America deserves a system that encourages innovation while protecting consumers and investors. It deserves rules that prevent illicit activity and protect market integrity. It deserves a framework that companies can rely on when they choose where to hire, invest and build.
Other countries understand this. They are establishing their frameworks, like Europe’s Markets in Crypto Assets (MiCA) regulation or Singapore’s Payment Services Act, providing regulatory certainty and setting standards. The United States cannot afford to let political gridlock determine the future of financial innovation.
It is essential that a top priority for the next Congress is to put politics aside — even for a moment — and pass bipartisan legislation authorizing digital asset activities, so that companies can invest safely and intelligently in the US.
About the author: Andrew M. Cuomo served as governor of New York from 2011 to 2021 and previously served as New York attorney general and US secretary of Housing and Urban Development. He currently serves on the board of OKX and co-chairs OKXICE, a joint venture between OKX and Intercontinental Exchange focused on tokenized and digitally native financial products.
Opinion: A single market worth protecting: Getting the MiCA review right
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Hong Kong Gov’t Doubles Down on End-2026 Deadline for Crypto Licensing Bill
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RWAs Won’t Go Mainstream Until They Feel Like Crypto
This is a contributor content by Nischal Shetty, CoFounder of Shardeum, a Layer 1 blockchain.
In 2018, the industry was certain that within five years every asset on earth would live on a blockchain. Real estate, art, private equity, shipping containers. There were conferences and there were decks about it. A whole category called security tokens got funded, launched, and then quietly stopped being mentioned, the way things do when nobody wants to say “dead” out loud.
What killed it wasn’t regulators, though that’s the story usually told. The products were tedious. People filled out forms, waited for approval, bought a token you couldn’t sell to anyone, and watched it sit in a wallet doing nothing. The technology was fine. Nobody wanted the experience.
That category is back, and this time the balance sheets behind it are enormous. BlackRock is here. Franklin Templeton, JPMorgan. The DTCC , the institution that quietly holds the world’s securities together, is running custodied assets through a blockchain pilot. Tokenized real-world assets on public chains passed $30 billion this year, four times what they were in early 2025. Those are not small signals.
But if you try to actually buy one you need to pick a tokenized Treasury fund, open a wallet, see how far it goes. Somewhere between the whitelist, the minimum ticket, and the onboarding form, it becomes clear this thing behaves less like a token and more like a private placement that happens to settle on a chain. Most people stop there, and it’s hard to blame them.
The data says the same thing, less politely. A report from BeInCrypto published in July found more than $32.9 billion in tokenized assets across some 900 products with zero weekly transfer activity. Not thin trading, Zero. One report called the market a waiting room, which is about right.
So the honest question isn’t whether tokenization works, it does. It’s whether anything has been learned since 2018, or whether the same tedious product has been rebuilt with better logos on it.
What made the other thing spread
It’s worth remembering why crypto travelled as far as it did, because it wasn’t the volatility and it wasn’t the casino. A few plain properties did most of the work.
No permission required. No minimum, no accreditation letter, no relationship manager. A student in Lucknow and a fund in London touch the same asset on the same terms. Most tokenized funds today are whitelisted, jurisdiction-gated, and start at six figures.
Other people can build on it. A crypto asset is useful the moment it exists as collateral, in a pool, inside something a stranger assembles at 2 a.m. without asking anyone. Roughly a tenth of tokenized RWAs dont touch DeFi.
It never closes. When markets shut during the geopolitical scare earlier this year, on-chain commodity venues were the only place left to price risk. That edge disappears the moment redemption takes T+2 and a compliance review.
The holder actually holds it. If only the issuer can call the transfer function, the user doesn’t own an asset. They own a line in someone’s database they’re allowed to look at.
Tokenized Treasuries are the interesting exception the one category analysts will call production-grade, at around $15 billion, reasonably liquid, increasingly usable as collateral. They behave like crypto assets rather than like funds, which is unlikely to be a coincidence.
The objection
Someone always says compliance won’t allow this, and they’re not wrong exactly. Securities law requires knowing who holds what.But that’s an argument for checking the identity, not the asset. Verify a wallet once, then let it move among other verified wallets. GENIUS in the US and MiCA in Europe delivered the clarity the industry spent a decade asking for, and so far it has mostly gone into rebuilding gated products on faster rails.
The rest is unglamorous product work. Denominations small enough to matter to a normal person. Distribution through wallets people already use. A secondary market designed from the start rather than promised in a roadmap.
None of this predicts that RWAs win. 2018 was a lesson in not making those predictions. It’s simply that the thing standing in the way isn’t the technology, and hasn’t been for years.
About Nischal Shetty
Nischal Shetty is one of the most influential voices in India’s crypto and blockchain ecosystem. He is the Co-founder of Shardeum, an EVM-based Layer 1 blockchain.
He is also the Founder and CEO of WazirX, India’s largest cryptocurrency exchange by trading volume, serving 12+ million users. Under his leadership, WazirX played a pivotal role in onboarding India’s first wave of crypto users and shaping the country’s digital asset economy.
About Shardeum
Shardeum is a Layer 1 blockchain that is building the foundation for a homegrown on-chain ecosystem. Let’s build dApps for India, applications that are affordable, accessible, and designed for the needs of a digital-first population. By enabling developers and users to move beyond exchanges and onto decentralized networks, Shardeum aims to unlock the next phase of Web3 adoption in India. For more information, visit https://shardeum.org/ .
The above article “RWAs Won’t Go Mainstream Until They Feel Like Crypto” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/rwas-wont-go-mainstream-until-they-feel-like-crypto/
Read Also: Why India’s Digital Future Must Move On Chain
Disclaimer: This is a contributor article, a free service allowing blockchain and crypto industry leaders to share their experiences or opinions with AlexaBlockchain’s audience. The content above has not been created or reviewed by the AlexaBlockchain team, and AlexaBlockchain expressly disclaims all warranties, whether express or implied, regarding the accuracy, quality, or reliability of the content. AlexaBlockchain does not guarantee, endorse, or accept responsibility for the content in any manner. This article is not intended to serve as investment advice. Readers are advised to independently verify the accuracy and relevance of any information provided before making any decisions based on the content. To submit an article, please contact us via email.
CFTC Proposes New Crypto Framework Rules After Failed CLARITY Vote
US Commodity Futures Trading Commission (CFTC) Chair Michael Selig said that the agency will move forward on crypto regulation at the direction of President Donald Trump “with or without legislation” from Congress.
Speaking at the Fordham Law Blockchain Regulatory Symposium on Monday, Selig announced proposals giving crypto companies the option to operate under the CFTC’s umbrella rather than dealing with the patchwork of regulations offered by individual US states.
According to written remarks from the event, the CFTC chair said that it had issued an advanced notice of proposed rulemarking for companies “offering retail customers the ability to trade crypto assets on a margined, leveraged, or financed basis,” calling the regulation ‘CTX.’
Selig said that the agency planned to establish a new category of designated contract market (DCM) called a “crypto asset market,” or CAM, giving certain exchanges the option to register as either.
“These rules would codify a pathway for crypto asset exchanges to operate under uniform national oversight by the CFTC pursuant to the same statutory authorities that the prior administration instead utilized to regulate by enforcement,” said Selig.
CFTC Chair Michael Selig on Monday.
Source: Fordham Law Blockchain Regulatory Symposium
The proposed rules would not extend to what the chair called “ordinary spot crypto exchanges” that are “generally regulated under state money transmission laws.” For companies offering spot trading on crypto assets like Bitcoin (BTC), the CFTC would still have the authority to enforce anti-fraud and anti-manipulation regulations.
Selig’s proposed regulatory framework for crypto companies came a few weeks after lawmakers in the US Senate failed to approve passage of the Digital Asset Market Clarity (CLARITY) Act, a bill that had been expected to give the CFTC more authority in overseeing and enforcing crypto regulations.
The Securities and Exchange Commission already announced its own version of a proposed “tailored securities offering regime” for crypto assets in August before the failed CLARITY vote, setting the expectation that both agencies would move forward with regulation without legislation codifying such rules from Congress.
Selig said that Trump promised to deliver a crypto asset regulatory market structure with or without legislation, and the regulators will help him deliver it using existing statutory authorities.
“The opponents to CLARITY may have not bargained for the seeming readiness of the executive branch to act in the absence of any constraint from the legislative branch,” said ProChain Capital’s David Tawil, in a post on Monday.
Both regulators still understaffed as they advance crypto proposals
Friday was SEC Commissioner Hester Peirce’s last day at the agency, wrapping up eight years of service, just ahead of the 18-month extension for her second term. Her planned departure leaves just two commissioners leading the SEC and Selig heading the CFTC as its sole commissioner and chair.
A White House official told Cointelegraph last week that Trump intended to nominate commissioners to both agencies “in the near future.” As of Monday, the administration had not announced any replacements for Peirce or the other six commissioner seats.
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MEXC and Payward Signal Intent to Explore Broader Collaboration Ahead of TOKEN2049
MUTSAMUDU, Comoros, Oct. 05, 2026 (GLOBE NEWSWIRE) — MEXC, a pioneer in 0-fee digital asset trading, and Payward, the parent company of Kraken, are in discussions to explore a collaboration as both platforms look at how exchanges can better serve users across evolving global markets. The two companies will bring the conversation to TOKEN2049 Singapore, where MEXC CEO Vugar Usi Zade and Payward Co-CEO Arjun Sethi will join a panel on the MEXC Stage to discuss the next phase of trading platforms and share further perspectives on collaboration between exchanges.
The discussion comes as trading platforms respond to several shifts happening at the same time. Users are seeking broader access across crypto and traditional markets, AI is changing how investors research and interact with trading tools, and social trading is creating new ways to discover and participate in market opportunities. Against this backdrop, exchanges are increasingly looking beyond individual products toward how market access, infrastructure, liquidity and user experience can work together more effectively. As platforms evolve, exchange security and user asset protection will also remain an important part of the conversation.
As the exchange industry evolves, platforms are building different strengths across user experience, market access, infrastructure and trading capabilities. MEXC has focused on retail user experience, deep liquidity and perpetual trading across crypto and TradFi assets, while Payward brings global compliant financial infrastructure, professional trading capabilities and a strong U.S. market presence. These different strengths create room to explore where broader collaboration could add value for users.
“Users increasingly expect broader market access without more complexity,” said Vugar Usi Zade, CEO of MEXC. “The next stage of trading will require strong user experience, liquidity, infrastructure and market access to work more closely together. As exchanges continue to evolve, there is growing room to explore where collaboration across the industry can create more value for users.”
The TOKEN2049 panel will take place on October 7 from 12:30 to 13:00 at the MEXC Stage, and will explore the trends reshaping trading, how exchanges are preparing for changing user expectations, and where greater collaboration between platforms could create value. The conversation will also look at the convergence of crypto and TradFi, the growing role of AI in trading, and how global trading platforms may evolve as markets and infrastructure become more connected.
About MEXC
Founded in 2018, MEXC is a leading global multi-asset trading platform built as your 0-fee gateway to infinite opportunities. Serving users across 170+ markets, MEXC provides simple and efficient access to crypto, stocks, tokenized assets, derivatives, and a growing range of TradFi-linked opportunities through one account and one gateway.
With 0 trading fees, deep liquidity, broad asset coverage, and a high-performance trading experience, MEXC is designed for retail users who want to discover earlier, act faster, and trade with fewer barriers. As crypto and traditional finance continue to converge, MEXC is committed to making global opportunities more accessible, helping users trade freely and MEXCmize every opportunity.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
For media inquiries, please contact MEXC PR team: media@mexc.com
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Risk Disclaimer:
This content does not constitute investment advice. Given the volatility of financial markets, including digital assets, tokenized assets, and traditional financial products, investors should carefully assess market conditions, underlying asset fundamentals, and potential financial risks before making any investment or trading decisions.
Legal Disclaimer: This article is provided on an “as-is” basis, without warranties or representations of any kind, express or implied. The media platform assumes no responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information presented. Any complaints, claims, or copyright concerns related to this article should be directed to the content provider mentioned above.
Source: MEXC
Crypto Advocacy CEO Defends OCC Against Banking Group Lawsuit
The Crypto Council for Innovation (CCI) has backed the Office of the Comptroller of the Currency’s (OCC’s) move to approve several charters for crypto companies, saying a lawsuit filed by the Independent Community Bankers of America (ICBA) was an attempt to stifle innovation.
On Monday, CCI CEO Ji Hun Kim said that the ICBA lawsuit was a “clear attempt to resist national trust charters, payments innovation, and competition in financial services.” The crypto advocacy organization supported the OCC’s approvals and conditional approvals of crypto companies for national trust charters, despite accusations from some lawmakers that exchanges “want to evade the fundamental safeguards and obligations that come with being a bank.”
The ICBA legal action, filed on Friday in the US District Court for the District of Columbia, alleged that the OCC approved US bank charters for entities, including crypto companies, without sufficient safeguards or compliance with requirements normally used for banks.
“Congress did not create the national trust charter as a side door into the banking system for crypto firms seeking the credibility of a federal bank charter without the Community Reinvestment Act obligations, consolidated supervision, capital and liquidity standards, and FDIC insurance that apply to insured depository institutions,” said ICBA president and CEO Rebeca Romero Rainey in a Friday statement.
Among the applications the OCC has approved or conditionally approved under US President Donald Trump were those from World Liberty Financial, Circle, Ripple, Fidelity Digital Assets, BitGo and Paxos.
Many lawmakers criticized the World Liberty approval, which came under the leadership of OCC head Jonathan Gould, a Trump pick who has served since July 2025. Members of the Trump family co-founded the crypto company, which has been the target of probes over alleged ties to the royal families of the United Arab Emirates.
Related: Bastion wins conditional OCC approval for national trust bank charter
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Modern Treasury seeks US trust bank charter for digital asset custody
The payments infrastructure company is seeking federal approval to offer stablecoin custody and related fiat services through a limited-purpose national trust bank.