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OCC Chief Hsu: Crypto Industry Has Unhealthy ‘Dependency on Hype’
24.5.2022
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
Acting OCC comptroller calls for standards on stablecoins
27.4.2022
According to Michael Hsu, representatives from the crypto industry as well as within the U.S. government could work toward setting standards on stablecoins
Law Decoded: Competing narratives around crypto clash on the Earth Day, April 19-26
25.4.2022
The future of crypto adoption will largely depend on which of the competing narratives about digital assets and blockchain’s environmental effects prevails
OCC issues order against Anchorage Digital over AML compliance
22.4.2022
The bank hinted that the OCC’s actions might help establish a regulatory precedent that could encourage other firms in the space to set up federally regulated digital asset banks
OCC Finds Anchorage Digital Failed to Maintain Proper AML Rules
21.4.2022
OCC Comptroller calls for federal collaboration with crypto intermediaries
16.1.2022
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
Democratic senators oppose President Biden's OCC Omarova nomination
27.11.2021
Saule Omarova’s nomination for Comptroller of the Currency faces policy objections from Democrats and senate banking committee members
Acting OCC head calls for consolidated supervision for crypto firms
17.11.2021
Michael Hsu said this approach would require more cooperation from both federal and state regulators, with “less regulatory competition” and “more interdependence.”
Federal Reserve, FDIC, OCC Discuss Allowing Banks to Hold Crypto on Balance Sheets
28.10.2021
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...
Senator pressures OCC nominee over missing Marxism thesis from Moscow Uni
7.10.2021
“I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government,” said Senator Pat Toomey
Opposition mounts to Biden’s OCC pick, fears she could ‘regulate crypto into oblivion'
29.9.2021
Texas Senator Ted Cruz is among a number of politicians and bankers that are opposed to the nomination of Saule Omarova
Acting OCC head warns that ‘fools gold’ in DeFi reminds him of lead-up to GFC
24.9.2021
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
Biden to nominate anti-crypto and anti-big bank law professor to run the OCC
23.9.2021
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
Crypto and DeFi disintermediate banking in new ways, says OCC head
16.9.2021
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
Circle Intends to Become a Full-Reserve National Commercial Bank
11.8.2021
Circle, a cryptocurrency fintech services company, announced it intends to become a full-reserve national commercial bank. This would bring a set of responsibilities and duties to the company equal to those of other mainstream banks: having to report to the Federal Reserve, U.S. Treasury, OCC,...
Binance US CEO Steps Down as the Crypto Exchange Faces Rising Regulatory Scrutiny
7.8.2021
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...
US regulators must collaborate on ‘regulatory perimeter’ for crypto: OCC head
31.5.2021
Acting OCC head, Michael Hsu, wants greater inter-agency cooperation in establishing regulatory guidelines for the crypto sector
US Regulators Urgently Working on Joint Cryptocurrency Regulation: Fed’s Quarles Says It’s ‘High Priority’
26.5.2021
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...
Fraudsters Impersonate a US Federal Agency by Sending Emails Asking for Bitcoin Wallet Keys
22.5.2021
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....
Top US Banking Regulator to Review Cryptocurrency Standards Under New Leadership
20.5.2021
The new Acting Comptroller of the Currency, Michael Hsu, has requested a review of the cryptocurrency standards established by the top U.S. banking regulator. He is also urged to “reassess any conditional national trust charters and halt the approval of any additional charters to nonbank...