Coinbase is urging U.S. regulators to ease restrictions on banks offering cryptocurrency services like trading and custody.
In a letter to key regulatory bodies, including the OCC, Federal Reserve, and FDIC, the exchange argued that current policies create unnecessary barriers, discouraging financial institutions from engaging with digital assets.
Regulatory uncertainty has kept banks hesitant, especially after reports that the FDIC advised institutions to limit crypto exposure between 2022 and 2023.
However, with President Trump’s administration signaling a more crypto-friendly approach—such as repealing an SEC rule that made crypto custody costly—Coinbase sees an opportunity for change.
The exchange’s request aligns with an upcoming Senate Banking Committee hearing on “debanking,” a practice that has affected the crypto industry.
Backed by major law firms, Coinbase maintains that banks are already legally permitted to offer crypto services. Regulators have yet to respond.
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