World · Regulation · United States ·
US regulator denies Wise bank charter, citing money-laundering risk
The US Office of the Comptroller of the Currency denied UK fintech company Wise's application for a national bank charter, citing risks related to money laundering and illicit finance. Wise plans to resubmit its application under the new GENIUS Act framework.
Why it matters for the crypto market
The denial signals that US regulators are still applying strict financial crime standards to fintech and crypto-adjacent firms seeking banking licenses, even as similar charters have been granted to digital asset companies recently.
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