Approach with caution: US banking regulator’s crypto warning
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
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OCC makes its staff available for fintech-related discussions
The announcement of one-on-one discussions with the OCC followed the department saying it planned to establish an Office of Financial Technology starting in 2023. Go to Source Powered by WPeMatico
OCC’s Hsu says regulators are ‘spending too much time’ on crypto: Reuters
Michael Hsu stated that it is starting to worry him that “we’re not spending that time and attention on some other things,” like fintech, which he described as the “future.” Go to Source Powered by WPeMatico
Acting OCC comptroller calls for standards on stablecoins
According to Michael Hsu, representatives from the crypto industry as well as within the U.S. government could work toward setting standards on stablecoins. Go to Source Powered by WPeMatico
Law Decoded: Competing narratives around crypto clash on the Earth Day, April 19-26
The future of crypto adoption will largely depend on which of the competing narratives about digital assets and blockchain’s environmental effects prevails. Go to Source Powered by WPeMatico
Federal Reserve, FDIC, OCC Discuss Allowing Banks to Hold Crypto on Balance Sheets
A group of U.S. banking regulators is working on how banks can be allowed to offer crypto services and hold cryptocurrencies on their balance sheets. The chairman of the Federal Deposit Insurance Corporation (FDIC) said, “If we don’t bring this activity inside the banks, it is going to develop outside of the banks … The … Read more
Senator pressures OCC nominee over missing Marxism thesis from Moscow Uni
“I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government,” said Senator Pat Toomey. Go to Source Powered by WPeMatico
Opposition mounts to Biden’s OCC pick, fears she could ‘regulate crypto into oblivion’
Texas Senator Ted Cruz is among a number of politicians and bankers that are opposed to the nomination of Saule Omarova. Go to Source Powered by WPeMatico
Acting OCC head warns that ‘fools gold’ in DeFi reminds him of lead-up to GFC
While crypto has been mostly weathered past hacks, scams, and crashes, acting OCC head Michael Hsu warns the risks may be multiplying as the technology goes mainstream. Go to Source Powered by WPeMatico
Biden to nominate anti-crypto and anti-big bank law professor to run the OCC
Omarova has stated she hopes to “end banking as we know it” but believes large financial firms can abuse the crypto market outside of regulators’ view. Go to Source Powered by WPeMatico
