NewsHK
Stablecoin issuers operating in the United States are moving into a dual-regulator environment, with state financial authorities now sitting alongside federal banking supervisors.
Circle secured a limited-purpose trust charter from the New York Department of Financial Services for Circle Internet Trust Company, adding a state layer to oversight that already existed at the federal level through a final national trust approval from the Office of the Comptroller of the Currency.
The two approvals together form a layered supervisory structure covering the issuer behind USDC.
What the two charters actually cover The OCC national trust charter and the NYDFS limited-purpose trust charter are distinct instruments, issued under different legal authorities. The OCC operates under federal statute.
Keep reading