US banking regulators have issued a new warning to banks to monitor for potential liquidity risks from clients involved in crypto. The Federal Reserve, Federal Deposit Insurance Corporation, and the O...
Tag: OCC
Paxos attempts to quash speculation of trouble with the OCC
Stablecoin issuer Paxos attempted to clear up rumors of trouble with the U.S. Office of the Comptroller of the Currency (OCC) late Wednesday, insisting its application for a national trust bank charte...
Federal Reserve, FDIC & OCC warns About Risks Against Crypto Assets
The Federal Reserve, OCC and FDIC issued a joint statement regarding the potential risk of crypto assets. OCC is reviewing banks asking permission to engage in crypto assets. Acting OCC says crypto i...
U.S. regulators issue post-FTX collapse crypto warning to banks
U.S. banking regulators remain skeptical of banks holding digital assets. The Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. put out a jo...
US Treasury’s OCC Says Crypto’s ‘Interconnectedness’ Is a Problem
Extended dislocations in crypto markets and ensuing failures of major players should put banks on notice, according to a unit of the US Treasury. In its semiannual Risk Perspective report, the T...
Senators question U.S. banking regulators on crypto exposure
Two U.S senators have written to agencies tasked with supervising the financial sector to seek details about banks’ exposure to cryptocurrencies. Sens. Elizabeth Warren, D-Mass., and Tina ...
OCC Issues Update to Organize a Virtual Innovation Office Hours
The Office of the Comptroller of Currency (OCC) in Washington, DC has released an update on how the Fintech solution week will be organized by its representatives. According to a newsroom update held ...
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 cr...
‘Getting away with murder’, former OCC head slams unequal regulations between crypto firms and banks
Former United States Comptroller during President Bill Clinton’s administration and managing partner at Canapi Ventures Eugene Ludwig has suggested that the fintech and cryptocurrency sector poses a t...
Senator Warren Wants OCC to Withdraw Crypto Guidance for Banks: Report
Senator Elizabeth Warren of Massachusetts is garnering support among colleagues on Capitol Hill for a letter that would ask the Office of the Comptroller of the Currency (OCC) to withdraw crypto guida...
OCC Chief Says Stablecoins Need Common Standard
Key Takeaways The Office of the Comptroller of the Currency has said that stablecoins need a common standard. He claimed that stablecoins should be interoperable with each other. He harkened the curre...
OCC Chief Says Government and Academics Need To Help Set Standards for Stablecoin Regulation
The head of the Office of the Comptroller of the Currency (OCC) says that crypto firms, governments, and academics should all work together to set new standards for stablecoins. Speaking at the Artifi...
Anchorage Technology Is Penalized By The OCC For Failure To Obey With Anti Money Laundering Rules
Anchorage became the first crypto company in the United States to be granted a national bank charter by the OCC. Former interim comptroller of the currency Brian Brooks was temporarily the CEO of Bina...
OCC demands Anchorage Digital clean up AML program
The US’s national bank regulator is not happy with Anchorage Digital’s know-your-customer (KYC) program. On April 21, the Office of the Comptroller of the Currency (OCC) released a consent...
Circle plans to apply for US Bank Charter soon, lauds the OCC for cooperation
Circle Internet Financial Limited has said it is looking to apply for a U.S. bank charter soon, according to a Bloomberg News report. The crypto payments company — the issuer of the USDC stablecoin — ...
OCC chief continues push for bank-style regulation for stablecoin issuers in the US
The leader of the Office of the Comptroller of the Currency, a US banking regulator, is continuing the Biden administration’s push for bank-style regulation for stablecoin issuers. On April 8, M...
OCC Chief Calls for Collaboration of Federal Entities in Crypto Regulation
The U.S. Office of the Comptroller of the Currency (OCC) says that federal authorities must cooperate in order to properly regulate the crypto industry. In a recent speech, Acting Comptroller of Curre...
Acting OCC Comptroller Urges Regulators to Collaborate with Crypto Intermediaries
Despite incessant backlash from regulators in the United States, the adoption and growth of digital currencies have been steady over the past few years. Considering this position, Michael J. Hsu, the ...
OCC Comptroller calls for federal collaboration with crypto intermediaries
The Acting Comptroller of the Currency, Michael J. Hsu, highlighted the need for collaboration and coordination with large crypto intermediaries to better understand the risks within the growing $2 tr...
Regulations Can Help Stabilize Stablecoins, Preventing a Possible Run, OCC Says
The Acting Comptroller of the Currency of the United States, Michael J. Hsu, gave a speech on January 13, 2022, highlighting the advantages of regulating the cryptocurrency space-specifically stableco...
OCC Chief: Bank Regulation Can Put ‘Stable’ in Stablecoins
The Office of the Comptroller of the Currency (OCC) is charged with regulating all national banks within the U.S. But its acting head implied the agency has the wherewithal to bring stablecoins under ...
OCC Chief Hsu Says Regulation Could Boost Stablecoin Innovation
Regulating stablecoin issuers like banks could encourage innovation in the crypto industry, according to top U.S. banking regulator Michael Hsu. Speaking at an event on Thursday, Hsu – the acting comp...