Crypto Firms Flock to Federal Oversight as Paxos Files for OCC Charter

Paxos is the latest crypto firm to seek a national trust charter, joining Ripple and Circle in pursuing federal banking regulation.

The stablecoin issuer, which operates under a New York state charter, aims to upgrade to an OCC-supervised license, citing stronger consumer protections.

CEO Charles Cascarilla tied the move to blockchain’s potential for “financial freedom,” emphasizing safety and transparency.

The trend follows the Trump administration’s crypto-friendly policies, including the GENIUS Act, which provides a regulatory pathway for stablecoins.

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