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Crypto· Crypto Regulation

Jack Dorsey's Block Applies for Bank Charter to Custody Bitcoin

Block has applied to the Office of the Comptroller of the Currency to charter Builders Bank & Trust, an uninsured national trust bank that would custody Bitcoin and other digital assets and handle stablecoin settlement without taking deposits or making loans. The firm says a federal charter would let it consolidate crypto services it now runs under more than 50 state licenses as the business scales.

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