The American Bankers Association (ABA) submitted a comment letter to the Office of the Comptroller of the Currency (OCC), urging a slowdown in the approval process for crypto companies' banking license applications. The ABA warned that approving these applications before Congress finalizes the relevant regulatory framework could pose risks to the financial system. Currently, several crypto companies, including Circle, Ripple, and Coinbase, are applying for or already hold OCC trust banking licenses. The banking industry is concerned that this could allow crypto companies to bypass the traditional banking middle layer and directly access the Federal Reserve's payment system. (Decrypt) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=56641