Acting Comptroller of the Currency Brian Brooks — soon to be confirmed in the part full time — has revealed another way for U.S. crypto custody providers to receive a charter to operate as a federally-canonical bank.

In a Nov. 17 interview with Forbes, Brooks stated that in that location are currently three methods for payment companies to become a federally chartered bank. The first option is to utilise for a non-depository national bank charter, and the other 2 are to buy a depository establishment or use for a National Trust Banking company charter.

Merely Brooks said the Function of the Comptroller of the Currency, or OCC, was on the cusp of allowing trust companies to become banks.

Co-ordinate to Brooks, companies like Anchorage, Coinbase Custody, and Gemini are already operating as trust companies nether state-issued trust company charters.

The Interim Comptroller said that the OCC had "a number of applications" from crypto companies to catechumen these charters into National Trust Bank charters. Brooks announced in July that the OCC would grant permission to federally chartered banks to provide custody services for cryptocurrency.

"That'southward where nosotros see payments companies coming in the side by side couple of months," said Brooks.

"The magic non-depository payments charter — we don't have that yet but are gear up to exercise it — on the others, yes absolutely, we granted one charter and will have more shortly."

The argument comes the aforementioned day President Donald Trump announced his intention to brand Brooks total-time Acting Comptroller of the Currency.

With just 63 days left in role, Trump released a statement through the White Firm website proverb he would exist nominating Brooks for a five-year term every bit Comptroller of the Currency. The Republican-controlled U.S. Senate must still approve the lame-duck appointment earlier Brooks can serve as full-time comptroller. If successful, he could be in the position well into a potential second term for President Joe Biden, or the first term of his successor.

Brooks, the former chief legal officer at crypto exchange Coinbase, has been in the temporary position since May. Treasury Secretarial assistant Steve Mnuchin appointed Brooks following former comptroller Joseph Otting's resignation.