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Sony Bank’s Crypto Push Faces Opposition From US Banking Groups

Sony Bank’s Crypto Push Faces Opposition From US Banking Groups

Author:

Global Cryptocurrency

Published:

2025-11-14 18:04:02

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BTCCSquare news:

Sony Bank's ambitious plan to enter the US crypto banking sector through its proposed Connectia Trust has sparked significant backlash. The Office of the Comptroller of the Currency (OCC) faces mounting pressure to reject the application, with banking and community groups raising concerns over stablecoin reserves, redemption mechanisms, and custody risks.

The Independent Community Bankers of America (ICBA) formally opposed the MOVE in a November 6 letter, arguing the trust structure doesn't align with traditional banking safeguards. This clash highlights the growing tension between innovation and regulatory oversight in digital asset banking.

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