Coinbase received conditional approval from the Office of the Comptroller of the Currency (OCC) for a trust charter, moving it closer to operating as a federally regulated crypto custodian. This development represents a significant step in Coinbase's custody expansion efforts, pending final compliance review and approval. The conditional approval comes as the crypto industry continues to seek regulatory clarity and legitimacy through traditional banking channels. This move could boost institutional confidence in cryptocurrency custody services and represents progress in the integration of crypto services with traditional financial infrastructure.