Internet reports that U.S. banking groups are urging the country's banking regulators to delay approval decisions on banking licenses of cryptocurrency companies until details of the companies 'plans are more public. They claimed that allowing these applications would be a "fundamental departure" from existing policies. The American Bankers Association and other industry groups for banks and credit unions wrote to the U.S. Office of the Comptroller of the Currency (OCC) on Thursday, saying their approval of national banking licenses for cryptocurrency companies, including stablecoin issuers Circle Internet Group and Ripple Labs,"will raise significant policy and procedural issues." The groups argued: "There are significant policy and legal issues as to whether the applicant's proposed business plan involves the types of fiduciary activities carried out by National Trust Bank." Circle, Ripple and Fidelity Digital Assets are a group of cryptocurrency companies that have recently applied for banking licenses from the OCC. Obtaining these licenses would essentially allow them to become their own banks, settling payments faster, and be regulated at the federal level, allowing them to do business in all states across the United States.