OCC’s Approval Of Crypto Charters Faces Pushback From Banking Lobbyist Groups
The Office of the Comptroller of the Currency (OCC) recently sparked a wave of criticism from traditional finance groups following its approval of conditional bank charters for five cryptocurrency firms: Ripple, Circle, BitGo, Paxos, and Fidelity. Stablecoins Seen As Direct Threat Following the OCC’s announcement, industry stakeholders quickly voiced their concerns. Traditional banks expressed apprehension […]
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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.....
Regulators are planning for new banking licenses for fintech startups across the U.S., said Comptroller of the Currency, Thomas J. Curry last week. The measure will affect startups dealing with lending, virtual currency payments, and deposits. National Charters for Responsible Innovators. The Office of the Comptroller of the Currency (OCC) is a federal....
The stablecoin issuer has nabbed a banking license, but it doesn't mean they'll be doing any banking in the traditional sense. The U.S. Office of the Comptroller of the Currency (OCC) has granted today stablecoin company and PayPal collaborator Paxos a federal charter to form a national trust bank — just the third such charter the OCC has granted crypto-native companies. Paxos joins custody firm Achorage, who was the first to receive a charter in January, and fellow custodian Protego, which received their conditional charter in February. As with the previous two charters, the “bank” label....
Japan’s three largest banking groups have received the greenlight from the FSA for a stablecoin issuance and cross-border payments project. Mitsubishi UFJ, Mizuho, & Sumitomo Mitsui To Jointly Issue Stablecoins As announced in a press release by MUFG bank, its banking group, along with two other major financial institutions, has just received approval from Japan’s […]
The Orlando, Florida-based Stratos Jet Charters Inc. has announced the company has partnered with FTX US and the collaboration will make it so Stratos Jet customers can pay for services with crypto payments via FTX Pay. The CEO of Stratos Jet says the company has been in search of a crypto partner and noted that FTX was an “ideal fit.” Stratos Jet Customers Can Book and Pay for Flights Using Cryptocurrencies On Tuesday, the firm Stratos Jet Charters Inc. revealed the company has inked a deal with the crypto firm FTX US and will allow customers to pay with cryptocurrencies.....