Zerohash's Application for U.S. Trust Bank License Rejected by OCC, Plans to Resubmit

Zerohash's application for a U.S. trust bank license was returned by the Office of the Comptroller of the Currency (OCC) on July 17. The company stated that this is an administrative procedure rather than a substantive rejection, and it plans to resubmit the application this month, focusing on a phased approach to obtain nationwide trust activity approval. Zerohash is currently a state-chartered trust bank, providing cryptocurrency infrastructure for clients such as BlackRock, Franklin Templeton, and Stripe. The company was previously valued at over $1.5 billion during its fundraising efforts. Additionally, Zerohash is facing a lawsuit from its former Chief Compliance Officer, who claims to have been fired for exposing over 200 compliance gaps, and the company's arbitration attempt has been preliminarily dismissed.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.