Top US Banking Regulator to Review Cryptocurrency Standards Under New Leadership
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 entities” during the review. Top Banking Regulator Reviewing Crypto Policy Michael Hsu, the new administrator of the federal banking system and chief executive officer of the Office of the Comptroller of the Currency (OCC) has requested a review of the regulator standards for cryptocurrencies.....
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The top U.S. banking regulator has confirmed that positive cryptocurrency regulation is coming in a matter of weeks, by the end of the Trump term. “It’s going to work for everybody,” said the regulator, adding that the new regulation will “make it easier for crypto investors to know how to invest,” therefore attracting more institutional investors. New US Crypto Regulation Will ‘Work for Everybody’ Acting Comptroller of the Currency, Brian Brooks, answered some questions about the upcoming U.S. cryptocurrency regulation in an interview with....
An Australian group has been selected by the International Organization of Standardization (ISO) to spearhead a technical committee developing standards for blockchain tech. Standards Australia announced its leadership role on the committee yesterday, revealing it will oversee members from 35 countries on the effort. The ISO, founded in the 1940s, is composed of representatives from more than 160 national standards-setting bodies. As such, in addition to Australia, the ISO work will draw representatives from standards bodies in Canada, France, the UK and the US, among others. The....
We are in a digital currency age. In the past couple of years, the startup ecosystem has experienced a bitcoin boom signified by an increasing number of startups focusing on bitcoin and blockchain related technologies. The advantages of blockchain technology is now widely recognized, especially by the banking and financial sectors. The growth of interest in cryptocurrency technologies and its implementation in various critical operations makes it important to ensure the quality of software standards in terms of usability and security is fit to meet the requirements of the....
The new head of the OCC thinks that the authority’s crypto rulemaking under Brian Brooks was not done in full coordination with all stakeholders. The United States’ banking regulator, the Office of the Comptroller of the Currency, is set to review cryptocurrency-related rulemaking following Brian Brooks’ departure. Michael Hsu, the newly-appointed Acting Comptroller of the Currency, has requested a staff review of former OCC rulemaking regarding the crypto industry as part of his testimony before the House Financial Services Committee on Wednesday.In prepared remarks, Hsu asked the OCC....
The U.K.’s advertising authority has sent an enforcement notice to more than 50 companies that advertise cryptocurrencies. “We will monitor for compliance and implement sanctions if we do not see improvements,” said the regulator. British Advertising Regulator’s ‘Red Alert’ Priority Issue The U.K. Advertising Standards Authority (ASA), the country’s regulator of advertising, announced Tuesday: We have issued an enforcement notice to over 50 companies which advertise cryptocurrencies, instructing them to review their ads and to ensure they....