OCC Comptroller: Crypto Companies ‘Don’t Know What They Want to Be When They Grow Up’

2022-10-14 22:08

Michael Hsu, acting comptroller of the currency (OCC), joined “First Mover” to discuss why crypto companies need to decide their area of focus in order for clear regulation guidelines to be established.

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occ crypto comptroller companies area need focus

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Источник: coindesk.com

occ crypto → Результатов: 97

Crypto Lender Nexo Acquires Minority Stake in OCC-Regulated Summit National Bank

Cryptocurrency lender Nexo has acquired a minority stake in Summit National Bank, a financial institution regulated by the Office of the Comptroller of the Currency (OCC).

2022-9-27 16:26	Business
summit national bank stake lender nexo minority

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US banks must maintain cautious approach to crypto, says acting OCC head

Michael Hsu, the acting head of the Office of the Comptroller of the Currency (OCC) said during a Banking Policy conference that regulated banks should maintain a “careful and cautious” approach to crypto to prevent contagion that would undermine the United States economy.

2022-9-8 01:19	Regulation
acting occ head maintain crypto cautious approach

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US Fed vice chair Michael Barr favors hard line on crypto, OCC acting head no friendlier

Barr, a former Ripple Labs adviser, has taken a rather less favorable view of crypto than he apparently had in the private sector, as he gives his first speech as a Fed official.

2022-9-8 00:34	Federal Reserve
barr crypto fed apparently had less favorable

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Banks To Use Their Risk Management and Compliance Expertise To Compete In The Crypto Space

The Office of the Comptroller of the Currency (OCC), an independent bureau of the US Department of the Treasury, issued interpretive letters in 2020 and 2021 on banks’ activities in the crypto industry.

2022-8-15 22:49	Cryptocurrency News
crypto banks interpretive issued department treasury letters

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Senator Warren proposes reducing Wall Street’s involvement in crypto

Warren’s letter urges OCC to collaborate with Fed and FDIC to develop an alternative cryptocurrency approach “that adequately protects consumers and the safety and soundness of the banking system.”

2022-8-5 13:31	Markets
warren approach cryptocurrency alternative adequately protects banking

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US Banking Watchdog Says Crypto Turmoil Reinforces Cautious Approach

Michael Hsu, chief of the Office of the Comptroller of the Currency (OCC), said the recent fireworks in the crypto industry have further cemented his resistance to allowing lenders unfettered exposure to the digital assets markets.

2022-6-24 22:30	policy
crypto cemented markets further industry assets unfettered

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OCC Chief Hsu: Crypto Industry Has Unhealthy ‘Dependency on Hype’

Michael Hsu, who runs the U.S. Office of the Comptroller of the Currency, said the recent fiery collapse of TerraUSD (UST) and the wider drama that came with it should serve as a “wake-up call” to the industry, which he argued has grown too fast.

2022-5-25 00:15	policy
hsu industry should serve wider drama came

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USDC’s Circle Working Towards US Crypto Bank Charter

Circle Internet Financial Limited has revealed that they are close to putting in an application for a crypto bank charter with the Office of the Comptroller of the Currency (OCC). It is a move the USDC issuer believes would be instrumental going forward, considering prevalent regulatory concerns.

2022-4-18 14:26
charter usdc crypto bank circle move currency

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OCC Comptroller calls for federal collaboration with crypto intermediaries

Michael J. Hsu said that the mainstreaming of crypto has occurred despite regulatory and legal uncertainty, and a series of scams, hacks and other disruptive events.

2022-1-18 11:41	United States
crypto regulatory events despite occurred legal uncertainty

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Federally Insured Credit Unions Are Now Allowed to Partner With Third-Party Crypto Service Providers

Federally Insured Credit Unions (FICU) can now partner with third-party digital asset service providers, said Todd Harper, Chairman of the National Credit Union Administration (NCUA), this week. As a counterpart to the Office of the Comptroller of the Currency (OCC), which regulates national banks, NCUA oversees credit unions.

2021-12-17 16:54	Legal & Regulation
credit unions service ncua federally national third-party

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US regulator that oversees banks like JPMorgan wants to curb how they engage with crypto

The US Office of the Comptroller of the Currency (OCC), recently issued Interpretive Letter 1179 that revises previously released guidelines for banks engaging in certain cryptocurrency related activities.

2021-11-25 00:00	Regulation
banks 1179 revises issued letter previously interpretive

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OCC Wants Strong Measures Before Banks Deal with Crypto Assets

The OCC wants better risk management measures in place before banks can deal with the crypto and digital asset class. The post OCC Wants Strong Measures Before Banks Deal with Crypto Assets appeared first on BeInCrypto.

2021-11-24 15:02
deal occ banks crypto wants measures assets

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Banking Watchdog Warns of Highly Cautious Approach to Crypto from OCC, Fed, and FDIC

Meanwhile, Binance CEO CZ says as much as 97% of its users go through KYC and that regions like Singapore, France, and Dubai “understand the importance of attracting crypto businesses.” The post Banking Watchdog Warns of Highly Cautious Approach to Crypto from OCC, Fed, and FDIC first appeared on BitcoinExchangeGuide.

2021-11-18 17:13	Legal & Regulation
crypto fed fdic banking occ watchdog warns

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Top US Bank Regulator Coordinating with The Fed and OCC to Have Clear Policy to Hold Crypto on Balance Sheet

The Federal Deposit Insurance Corporation has its eyes set on cryptocurrencies. A team of U. S. bank regulators will be teaming with other agencies to coordinate policies for how and under what circumstances banks can engage in activities involving crypto.

2021-10-27 16:02	Bitcoin News
crypto bank coordinate policies agencies teaming regulators

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Biden Nominates Crypto Skeptic Saule Omarova to Lead OCC

President Joe Biden has nominated Saule Omarova to lead the Office of the Comptroller of the Currency (OCC). The post Biden Nominates Crypto Skeptic Saule Omarova to Lead OCC appeared first on BeInCrypto.

2021-9-29 22:00
lead biden omarova occ saule nominates crypto

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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 who are opposed to the nomination of Saule Omarova.

2021-9-29 08:06	Banking
among number ted texas senator politicians cruz

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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.

2021-9-24 07:04	Derivatives
warns acting head occ michael hsu crashes

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The Biden Administration Is Considering Cryptocurrency Critic For Head OCC Position

US President Joe Biden is reportedly considering nominating a crypto critic as the head of the Office of the Comptroller of Currency (OCC). Saule To Put Crypto And Big Bank To The Sword Currently headed by Michael Hsu, on an interim basis, the OCC is the regulatory body responsible for supervising the bank sector in […] The post The Biden Administration Is Considering Cryptocurrency Critic For Head OCC Position first appeared on BitcoinExchangeGuide.

2021-9-24 18:18	Legal & Regulation
occ head critic biden considering crypto bank

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Biden to nominate anti-crypto Saule Omarova as the head of the OCC

The regulatory situation in the US is already not looking too good as it is, and it seems that further moves of the Biden administration might further discourage hopes of any positive crypto regulations.

2021-9-24 15:37	Cryptocurrency
further biden seems moves might hopes any

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Crypto, DeFi is Fool’s Gold, OCC Chief Says

The acting chief of the U.S. OCC is not a big fan of cryptocurrencies or DeFi. At least, not yet. DeFi is Fool’s Gold, OCC Chief Says While the global crypto markets continue to witness a significant correction from the latest local highs, the regulators around the world don’t seem to be holding back fromRead More

2021-9-23 19:00
defi chief occ says fool crypto gold

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Crypto and DeFi disintermediate banking in new ways, says OCC head

The head of the body in charge of overseeing U.S. banks named cryptocurrency and decentralized finance (DeFi) activity among factors contributing to disintermediation of the banking system.

2021-9-17 15:39	Banking
head banking defi among activity finance decentralized

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US regulators must collaborate on ‘regulatory perimeter’ for crypto: OCC head

Acting OCC head, Michael Hsu, wants greater inter-agency cooperation in establishing regulatory guidelines for the crypto sector.

2021-5-31 09:29
head crypto occ regulatory cooperation greater inter-agency

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US Regulators Urgently Working on Joint Cryptocurrency Regulation: Fed’s Quarles Says It’s ‘High Priority’

U.S. government agencies are urgently working together on a joint regulatory framework for cryptocurrencies, Federal Reserve Vice Chair of Supervision Randal Quarles has confirmed. “We along with the OCC and the FDIC are engaged right now in what we are calling a sprint in seeking to pull together views on” crypto regulation. US Agencies Collaborating […]

2021-5-26 17:00
together quarles agencies joint working urgently regulation

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Fraudsters Impersonate a US Federal Agency by Sending Emails Asking for Bitcoin Wallet Keys

U. S. consumers have been receiving fake emails that attempt to impersonate a federal regulatory agency which has raised alarms among crypto community members. The U. S. Office of the Comptroller of the Currency (OCC) warned that such bogus messages ask people for their bitcoin wallet keys.

2021-5-22 11:30	United States
bitcoin wallet emails keys federal impersonate agency

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OCC Mulling Partnership with Feds and FDIC To Regulate Crypto

Joint Task Force On Crypto According to the Treasury Secretary Janet Yellen appointee, a combination of the OCC, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) may soon end cryptocurrencies' regulatory uncertainty.

2021-5-20 19:10	Legal & Regulation
occ federal fdic crypto cryptocurrencies regulatory uncertainty

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New OCC Head Michael Hsu to Review Former Comptroller Brian Brooks Crypto Guidance

Former Acting principal of the Office of the Comptroller of the Currency (OCC) Brian Brooks may have given cryptocurrencies a pass in Washington, but this may be short-lived if anything is to come out of recent inquiries by the new head of the agency.

2021-5-19 17:34	Legal & Regulation
comptroller brian brooks former new may occ

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OCC Grants Crypto Firm Paxos ‘Conditional Approval’ for US Bank Charter

The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize the firm’s future banking plans. Paxos Granted Preliminary […]

2021-4-25 00:30
paxos approval conditional preliminary granted charter currency

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PayPal Partner Paxos Obtains Federal Bank Charter from OCC

Paxos is the latest company to obtain preliminary conditional approval from the U. S. Office of the Comptroller of the Currency (OCC) to establish a de novo National Trust Bank. This is the third such charter issued by the OCC, the top banking regulator, to a crypto native company.

2021-4-24 18:00
occ company paxos bank charter third such

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Brian Brooks defends fintech charter to House Financial Services Committee

Brian Brooks has defended the fintech charter he oversaw while heading the OCC, warning heavy-handed crypto regulations could undermine U.S. competitiveness globally.

2021-4-17 08:06
charter brian fintech brooks heavy-handed warning occ

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Former OCC official says crypto has backing but dollar ‘may not’

Former OCC acting comptroller Brian Brooks claimed that cryptocurrencies like Bitcoin “actually are backed by something.”

2021-3-27 17:03	United States
occ former claimed brooks comptroller acting cryptocurrencies

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Blockchain Bank Protego Becomes the Second OCC-approved National Crypto Custodian

The first and only Washington-chartered digital assets company Protego Trust Bank will become the second digital asset bank in the US to receive conditional approval from the Office of the Comptroller of the Currency (OCC) to custody digital assets for institutional clients.

2021-2-6 14:09	Cryptocurrency News
digital bank protego second assets receive office

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Crypto custodian Protego gets national charter from the OCC

Protego joins Anchorage as the first string of digital asset firms to get national trust bank licensing.

2021-2-6 19:25	Cryptocurrency Exchange
protego national digital anchorage string asset bank

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Bitcoin and How Crypto will Transform the Financial World

On January 13, 2021, the US Office of the Comptroller of the Currency (OCC) announced that it had given conditional approval to Anchorage Trust Company, a chartered trust firm, to become Anchorage Digital Bank.

2021-1-27 12:00	Sponsored
anchorage trust had given bank conditional approval

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Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

Micheal Barr, the former member of Ripple’s board of advisors, is set to become the United States’ next banking regulator, according to a report. A former assistant treasury secretary, Barr will become the second individual with crypto connections to lead the Office of Currency Comptroller (OCC.

2021-1-22 03:30
former regulator barr ripple report according assistant

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JPMorgan Chase execs weigh in on stablecoin regulation, crypto competition

While the OCC's new stablecoin guidance doesn't have an impact on JPM Coin, it could lead to crypto payments if there's demand

2021-1-17 22:10
stablecoin crypto coin impact jpm could demand

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Brian Brooks Leaves OCC as US Congress Slams Him for Focusing on Crypto

Head of the OCC, Brian Brooks, has resigned several months after several US Congressmen criticized him for a too heavy and "inappropriate" focus on crypto regulation

2021-1-16 15:03
crypto brian several him brooks occ criticized

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Anchorage Obtains Federal License to Operate as Crypto Bank

The U. S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to crypto custodian Anchorage to launch the first federally chartered digital asset bank in the country. In a statement on Jan.

2021-1-15 09:30
crypto anchorage bank federally jan launch chartered

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Anchorage Secures Trust Charter from Outgoing OCC Brian Brooks; Becomes First Crypto Bank

Crypto custody and financial services firm Anchorage has received a conditional trust charter from the OCC. Anchorage, a crypto custody and financial services provider, is the first crypto native company to secure a bank charter.

2021-1-15 22:22	Legal & Regulation
crypto anchorage charter bank financial services custody

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Anchorage gets OCC’s approval to operate as a national crypto bank

The Office of the Comptroller of the Currency (OCC) has granted Anchorage a federal charter to operate as a national crypto bank. This news was shared on January 13 through a press release, noting that the OCC made this decision after a thorough review of Anchorage Trust Company and its operations.

2021-1-15 21:16	Tether
anchorage occ bank crypto operate national made

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OCC Charter Makes Anchorage First Federal Crypto Bank

Continue reading at Coinspeaker

2021-1-14 15:15
continue reading coinspeaker bank crypto makes charter

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Anchorage granted US's first national crypto bank charter

With Acting Comptroller Brooks on his way out the door, the OCC has given its first digital bank charter.

2021-1-14 22:47	Adoption
bank charter way out comptroller brooks occ

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US Banking Regulator Gets Ready for DeFi, But the Roller Coaster Continues with Acting OCC Facing Exit

The crypto community is excited and bullish on the forward-thinking leadership from the OCC. But it will take time to really come into action. The post US Banking Regulator Gets Ready for DeFi, But the Roller Coaster Continues with Acting OCC Facing Exit first appeared on BitcoinExchangeGuide.

2021-1-13 16:25	DeFi
occ acting gets exit continues facing defi

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Wall Street Veteran: OCC Ruling Is a Double-Edge Sword for the Crypto Industry

According to Wall Street veteran, Caitlin Long, the ruling from the Office of Comptroller of Currency (OCC), which was released in a letter last week, gives large banks an unfair advantage over crypto startups.

2021-1-12 20:00
wall ruling crypto veteran street occ week

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Crypto Long & Short: Traditional and Crypto Markets are Starting to Converge

The latest OCC statement, which opens the door for banks to use blockchains to validate payments, hints at more than just better services.

2021-1-11 01:32	Newsletters
crypto payments validate use banks blockchains hints

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Speculations From the OCC Allowing Banks to Handle Stablecoin Payments

The Office of the Comptroller of the Currency (OCC) recently approved the use of stablecoins for banks to process financial transactions. However, issues arose from the new OCC guidelines on what this could mean for the entire crypto community and stablecoins, even in the future.

2021-1-7 21:00	Wall Street
occ stablecoins banks new guidelines could crypto

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Crypto is at 'a fork in the road,' OCC leader Brooks says

Brian Brooks, the acting head of the U.S. Office of the Comptroller of the Currency, said crypto regulation could either focus on safety for participants or could undo all progress.

2020-12-20 21:53	US government
brooks could crypto focus either regulation safety

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Crypto lobby considers ideal Biden picks for SEC, CFTC, OCC

With Janet Yellen the presumptive Treasury Secretary, Biden's potential nominations to the U.S. regulatory apparatus will be critical.

2020-12-18 00:57
biden potential secretary presumptive treasury nominations regulatory

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BitPay files with OCC to become national crypto-native trust bank

Another crypto player has taken steps to go mainstream, but a lot of work still remains ahead.

2020-12-10 23:56
taken steps mainstream crypto player another remains

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BitPay Applies to Become a Bank

One of the biggest and oldest bitcoin crypto payment processor has applied with the Office of the Comptroller of the Currency (OCC), to become a bank. It will be named...

2020-12-10 22:14	USA
bank currency comptroller occ office applied named

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Canadian Province Asks QuadrigaCX Co-Founder to Explain His Wealth in New Order

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U.S. CBDC Is Unlikely in the Near Term: Bank of America

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India's Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges

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Binance Japan Starts Onboarding Users

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