Cryptocurrency exchange Coinbase last week won conditional regulatory approval for a national banking trust charter. And much like previous approvals, this one has drawn criticism from the banking sector, represented here by The Independent Community Bankers of America (ICBA). Soon after Coinbase announced that the Office of the Comptroller of the Currency (OCC) had granted permission to charter Coinbase National Trust Company, the ICBA issued a statement in opposition to the approval. In announcing the OCC approval last week, Coinbase International Co-CEO Greg Tusar said the company had no plans to become a commercial bank. "We will not be taking retail deposits," he said. "We will not be engaging in fractional reserve banking. This charter is about bringing federal regulatory uniformity to the custody and market infrastructure business we have been building for years."