Coinbase today sent a letter to the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board of Governors (Fed), and the Federal Deposit Insurance Corporation (FDIC), asking regulators to confirm whether banks are free to provide services to cryptocurrency businesses and clarify the current status of banking services in the crypto industry. In the letter, Coinbase asked the OCC to withdraw an interpretive letter that it said "effectively sets a new banking activity application process" and restricts banks' access to the crypto asset market. Coinbase also asked the Federal Reserve and the FDIC to confirm whether state-chartered banks are allowed to provide crypto custody and execution services and outsource them to third-party service providers.