When the strongest individuals begin to battle against something, any logical person could assume that the item being attacked is thriving. The same can be said about what we see happening today where banks across America are in complete Sandy Hook panic and it is obvious to everyone. Recently, The Independent Community Bankers of America (ICBA) publicly stated that the Office of the Comptroller of the Currency (OCC) making Coinbase a licensed bank, was arguably the biggest mistake ever made. They spoke very carefully and used very strong verbiage.So how will this have an effect on you? More people will be affected than previously thought.<h2>What Just Happened </h2>The OCC (the Office of the Comptroller of the Currency) sits as the federal watchdog over the banking industry in the United States. By granting a company approval for a trust charter, the OCC is indicating that the company has entered into the mainstream banking system.Recently, Coinbase received its trust charter from the OCC. This is a significant event. The fact that Coinbase now holds a trust charter allows it to provide custodial services for its customers' assets under the same level of legal protection and regulatory oversight afforded to traditional banks. In other words, crypto has officially transitioned from being part of the Wild West and now resides within the same confines as all the financial institutions on Wall Street. And traditional banks are furious about it! As a reminder — traditional banks have spent years telling you that crypto isn't a real thing, it isn't secure, and it isn't worth your time. They are currently putting enormous political pressure on Congress at the national level to stop crypto from becoming mainstream. You don't expend political capital in an attempt to end something that doesn't pose a threat to you; you would expend that political capital in an attempt to stop something that poses a threat to your business.<h2>Why Banks Are Scared — And Why That Fear Is Your Signal</h2>Let's be real: Banks don't care about protecting you from this fight. They just care about how Coinbase getting a trust charter changes the competitive landscape forever. The banks are currently controlling the infrastructure for when you hold your money, processing your transactions and collecting fees on every move you make. They have developed an entire system for themselves where you must use them - even though they don't do a good job for most people.Now Coinbase with a trust charter will start tearing down that monopoly, piece by piece, as they gain power in various areas. Think about what the circumstances are to be now that there is a way to gain access to cryptocurrency for institutional investors who have been too afraid to get into crypto without a federally regulated and recognized pathway. Now there is a way for ordinary people to have access to a custody for their cryptocurrency assets that has the same legal status as their bank. Now businesses will have a way to integrate digital assets into their business operations without being treated like a criminal. The ICBA referring to this as a "grave mistake" is not a critique but a confession that the walls that they have built around the financial system for decades are beginning to crack.<h2>What This Means</h2>This is how to truly understand the development of regulation (not just noise from the media and others about it): Step 1: How legitimacy affects an asset class. As the asset class of an asset moves away from being seen as fringe and into recognized (i.e. accepted) by the federal government, money will follow. We have seen that happen in regards to ETFs, as well as what is happening now. Legitimacy is not the ceiling; it is actually the floor that is created before true (and continued) growth. Step 2: Watch what your adversaries actually do, as opposed to just listening to what they say. The ICBA will conduct lobbying efforts. The ICBA will create and distribute letters, using phrases like systemic risk, consumer protection, etc. They will use those phrases not because they believe those words hold meaning; rather, they believe that these words will resonate with legislators and force a favorable position. Watching to see if the OCC remains resolute is a far better indicator of the future of this industry than a price chart. Step 3: Position yourself within the space by gaining knowledge before the rest of the crowd catches up to you. Most people will read a headline about complaints by the banking industry and move on; you are reading this. The difference in those who have a grasp on the industry and those who do not creates the largest opportunities. The difference has always existed.<h2>When powerful people fight something this hard, it's because it's winning</h2>Coinbase was granted an official trust charter as a direct result of the maturing of crypto and the need for a regulatory framework for crypto. Banks are aware that once an item is placed in the regime of official financial institution, it becomes a fixture therein. This is also the reason for them to be up in arms at this point. The ICBA used terms such as "grave mistake" simply due to the fact that they understand that institutional resistance to crypto represents a confirmation signal rather than a warning signal.

Recently, The Independent Community Bankers of America (ICBA) publicly stated that the Office of the Comptroller of the Currency (OCC) making Coinbase a licensed bank, was arguably the biggest mistake

The Banking Cartel Just Showed Its Hand — And That Tells You Everything

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The $308 Billion Dollar Problem; Nigeria just beat the United States at something Americans invented

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