US currency comptroller to up its game with new Office of Financial Technolog...
The OCC said it will incorporate its six-year-old Office of Innovation into a new agency that will help it deepen its understanding of fintech and promote responsible innovation. The United States Office of the Comptroller of the Currency (OCC) announced Oct. 27 that it will create an Office of Financial Technology early next year. The new office will incorporate the Office of Innovation, which was set up in 2016. It will be led a by a chief financial technology officer, who will report to the senior deputy comptroller for bank supervision policy.The OCC describes itself as the U.S.’s....
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Financial technology, Bitcoin, and blockchain startups may soon face regulatory oversight from the Office of the Comptroller of the Currency (OCC). The organization is creating an office focused on the emerging fintech economy and implementing “responsible innovation.” U.S. Office of the Comptroller of the Currency Creates Fintech Innovation Working....
President Joe Biden looks set to appoint another former crypto executive to head up the Office of the Comptroller of the Currency. According to the Wall Street Journal, a former member of Ripple’s board of advisors directors is likely to become the next Comptroller of the Currency.The report cites insiders “familiar with the matter” who expect President Biden to nominate former Treasury Department official, Michael Barr, to the top post overseeing national banks.The position as Comptroller of the Currency serves as the administrator of the federal banking system, and is the chief officer....
Micheal Barr, the former member of Ripple’s board of advisors, is set to become the United States’ next banking regulator, according to a report. A former assistant treasury secretary, Barr will become the second individual with crypto connections to lead the Office of Currency Comptroller (OCC.) The recently departed Currency Comptroller Brian Brooks is a former Coinbase executive. Biden Taps Comptroller With Crypto Ties According to a Wall Street Journal report, which cites anonymous sources, Barr’s likely appointment will be at the expense of Mehrsa Baradaran, a law....
Thomas J. Curry, Comptroller of the Currency, opened today the Office of the Comptroller of the Currency (OCC) Forum on Supporting Responsible Innovation in the Federal Banking System at OCC’s headquarters in Washington DC which brought together “thought leaders from banks, financial technology companies, academia, community and consumer groups.” Curry’s agency is tasked with overhauling outdated financial legislation to take into account new innovation such as blockchain and blockchain related technology, which has taken the financial world by storm since last year, and more....
Comptroller of the Currency Thomas J. Curry, who heads an independent department in charge of supervising all U.S. national banks, stated in a speech April 7 at the American Banker Retail Banking Conference that “it’s important that regulators are open to the changes that are underway in both technology and business practices,” according to prepared remarks shared with Bitcoin Magazine. The comptroller signalled a shift in attitudes toward fintech regulations, an umbrella term used to describe companies or services that use a combination of finance and technology, with Bitcoin being the....