OCC

Michael Hsu, Chief of the US Office of the Comptroller of the Currency (OCC), isn’t very keen on cryptocurrency. He recently called the industry a threat to the financial system that could unravel into a 2008-style collapse. Hsu’s Concerns Surrounding Crypto Hsu voiced his criticisms of the digital asset space in a webcast with The Blockchain Association on Tuesday. During the call, he compares the threat of cryptocurrencies to credit-default swaps that led to the banking meltdown of 2008. Like cryptocurrency and…

Brian Brooks, the Comptroller of the United States Currency believes that decentralized finance (DeFi) could determine the future of banks.  According to him, DeFi will eventually redefine the banking system provided that adequate regulations are put in place. DeFi Could Change the Banking Sector Brian Brooks the current director of the Office of the Comptroller of the Currency (OCC) revealed his thoughts in an opinion piece published for the Financial Times.  According to Brooks, licenses from national banks could one…

All banking institutions in the United States can now use public blockchains and the stablecoins they host to make payments. They can also mine nodes of these blockchains and issue their own stablecoins. US Banks Allowed To Use Stablecoins This development comes from a statement by the Office of the Comptroller of the Currency (OCC). The OCC is the institution responsible for regulating and overseeing domestic banks operating in the United States. The letter states that all banking institutions in…