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“# Anchorage granted US’s first national crypto bank charter ” Custody pioneer Anchorage is the first crypto firm to see a charter from the U.S. national bank regulator. Per a Wednesday announcement from the Office of the Comptroller of the Currency, Anchorage will have conditional authorization to operate as a trust institution nationally. The charter…
“# An online future for finance is inevitable, says OCC’s Brooks ” The departing leader of the Office of the Comptroller of the Currency is convinced that the future of finance is blockchain-native, per a conversation with crypto analytics firm Elliptic on Wednesday. Described by Elliptic CEO Simone Maina as “a fairy godfather to the…
“# Visa abandons $5.3B Plaid acquisition in the face of DoJ antitrust suit ” The United States Department of Justice saw a victory in a major fintech acquisition case that could set the stage for a host of antitrust enforcements. On Tuesday, the DoJ announced that Visa and Plaid had called it quits on their…
“# Reuters: Gary Gensler, MIT blockchain professor and Obama’s CFTC chair, to head Biden SEC ” President-elect Biden has finally decided on his nominee to head the Securities and Exchange Commission. At least according to Reuters’ anonymous sourcing in a Tuesday report, Gary Gensler will be Biden’s nominee as SEC Chair. During the Obama administration,…
“# OCC’s Brian Brooks thinks that DeFi can root out bias and fraud in traditional banking ” In an opinion piece published in the Financial Times on Tuesday, Acting Comptroller of the Currency Brian Brooks put forward the need to reconfigure banking regulations for an age of algorithms. Brooks, who currently leads the Treasury’s Office…
“# Seven times that US regulators stepped into crypto in 2020 ” As digital assets made strides toward mainstream status in 2020, the guardians of the incumbent financial system have been working hard to minimize disruption caused by their integration. In the U.S., regulatory and law enforcement interventions throughout the year have left some projects…
“# States sue the OCC and Brian Brooks for overriding their controls on predatory lending ” Eight states and the District of Columbia are suing the national bank regulator over a rule change that just came into effect. Per a Jan. 5 filing, New York’s attorney general is leading the charge against the Office of…
“# OCC greenlights national banks to run nodes and stablecoin networks ” Monday evening, the Treasury’s Office of the Comptroller of the Currency told national banks that they are allowed to run independent nodes for distributed ledger networks. Referring to of independent node verification networks, the OCC’s interpretive letter says that banks “may use new…
“# With 6 hours left, Treasury logs almost 6000 comments on crypto monitoring proposal ” Despite many objections to the truncated timeframe, public comments are due tonight in response to the U.S. Treasury’s proposal to require businesses like crypto exchanges to know the identities behind wallets with which they transact. As of Sunday night, the…
“# Congresspeople chastise the Treasury for rushing new crypto monitoring proposal ” Nine congresspeople have signed on to a letter to Treasury Secretary Steven Mnuchin, telling him to hold his horses. The Thursday letter is in response to the Treasury’s recent proposal to make registered crypto businesses hold on to more customer information, especially when transacting with…