Recent US regulatory guidance allows banks to act as validators for proof-of-stake networks, a move welcomed for institutional adoption but criticized for potential centralization risks. Bohdan Opryshko, COO of Everstake, warned that if banks dominate as validators, the decentralized nature of networks like Ethereum and Solana could be compromised, concentrating power among few entities. He noted that large-scale staking by banks might suppress yields, adversely affecting smaller validators. The guidance from the Office of the Comptroller of the Currency (OCC) came amid a broader push to enhance access to banking for crypto firms, reversing previous restrictions that limited their banking services. This shift follows public outcry and legal challenges aimed at addressing the issue of “debanking.” Currently, Anchorage Digital stands as the sole federally chartered US bank providing cryptocurrency staking services, reflecting the evolving relationship between traditional finance and blockchain.

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