The following statement is attributed to Blockchain Association CEO Summer Mersinger following a series of letters from BPI to the OCC regarding national trust charters:
“It’s disappointing that the Bank Policy Institute predictably continues to resist competition and innovation in financial services. Rather than defending the status quo, it’s time to drain the regulatory moat that protects traditional finance from new entrants. Blockchain Association applauds these applicants that are pursuing oversight through the OCC trust charter process. Ultimately, it’s not BPI’s role to determine who merits a national trust charter – that responsibility lies with the OCC. We appreciate the agency’s careful, merit-based evaluation of each application, free from political or industry pressure.”
