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During a speech at a banking conference in DC, acting comptroller Michael Hsu said FTX was an example of why a “consolidated home country supervisor” is needed. Go to Source Powered by WPeMatico
On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution … Read more
The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector,” the … Read more
The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management. Go to Source Powered by WPeMatico
Former acting Comptroller of the Currency Brian Brooks has resigned as the CEO of Binance U.S. after just over three months. He cited “differences over strategic direction.” Meanwhile, Binance is facing regulatory scrutiny worldwide, including in the U.K., Malaysia, Japan, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. CEO of Binance US Resigns The CEO … Read more
Brian Brooks has defended the fintech charter he oversaw while heading the OCC, warning heavy-handed crypto regulations could undermine U.S. competitiveness globally. Go to Source Powered by WPeMatico
The new top banking regulator for the Trump administration sees “huge and great promise” in cryptocurrency. Focusing on decentralized networks, bitcoin, and rewriting existing regulations, he shares his views on cryptocurrency and the creation of the digital dollar. Top US Banking Regulator Is Pro-Crypto Brian Brooks recently became the new acting Comptroller of the Currency, … Read more
