Coinbase’s CLO, Paul Grewal, says that the lobbyists want to keep crypto boxed out

Coinbase’s push to secure a national trust charter is reportedly facing huge roadblocks from one of the most powerful bank lobbying groups in ￰0￱ Independent Community Bankers of America (ICBA) moved ahead to urge the US Office of the Comptroller of the Currency to deny the exchange’s ￰1￱ US’s biggest crypto exchange had applied for a national trust bank charter for its subsidiary, Coinbase National Trust ￰2￱ had argued that granting the charter would “set a dangerous precedent”. It added that the company’s business model remains “untested” in periods of prolonged market ￰3￱ slams ICBA for “Regulatory Moats” Coinbase’s chief legal officer, Paul Grewal, didn’t leave the response unnoticed and called the ICBA’s position a clear case of protectionism, not consumer ￰4￱ an X post , he stated that imagine opposing a regulated trust charter because you prefer crypto to stay ￰5￱ mentioned that this is bank lobbyists trying to build regulatory ￰6￱ ICBA’s letter is trying to reflect growing concern among regional ￰7￱ suggests that crypto-native firms are inching closer to traditional financial ￰8￱ this gets approved, then the charter would allow Coinbase to offer custody, payments, and settlement ￰9￱ will come directly under federal oversight.

However, it may allow that exchange to bypass some state-by-state regulatory ￰10￱ urged the @USOCC to deny Coinbase’s application for a national trust bank charter for its subsidiary, Coinbase National Trust ￰11￱ application fails to meet statutory chartering standards and would set a dangerous precedent for the structure of the ￰12￱ system.… — Independent Community Bankers of America (@ICBA) November 4, 2025 Coinbase has highlighted that this is not an attempt to become a ￰13￱ had stated that its existing Coinbase Custody Trust Company will remain regulated by the New York Department of Financial ￰14￱ exchange urges that the national charter would simply provide broader clarity.

However, it will also help institutional clients to operate under a federally recognized regulatory ￰15￱ US’s biggest crypto exchange is not alone in the race, as Circle and Paxos have sought national trust ￰16￱ Ripple has disclosed earlier this year that it, too, had applied for a bank ￰17￱ Buyer Demand Fades on Coinbase Coinbase’s share price finally saw a surge on the Wednesday trading ￰18￱ price jumped by more than 3% over the session to trade around $318 ￰19￱ comes in when the COIN price has recorded a dip of almost 18% over the last ￰20￱ comes in when the sentiment around Coinbase in the market has ￰21￱ has recently traded at a discount on Coinbase compared to global ￰22￱ was a reversal of the usual “US buyer premium” that often signals strong retail ￰23￱ to CoinGlass data, the Coinbase Premium Index stayed negative from late October into early ￰24￱ is seen as its longest stretch since ￰25￱ downturn followed a sharp pullback in Bitcoin price..

It eventually snapped the market’s usual bullish “Uptober” pattern and dragged sentiment lower across US retail ￰26￱ price has dropped by almost 17% in the last 30 ￰27￱ managed to forge a recovery rally over the past 24 ￰28￱ is trading at an average price of $104,256 at the press ￰29￱ up to Bybit and start trading with $30,050 in welcome gifts