Tagged: occ

Justin Mart, Ryan Yi from Coinbase take a Closer Look at Ethereum, DeFi Growth, Also Review OCC, FinCEN Developments

Digital asset exchange Coinbase recently published its Around the Block #11: “A snapshot of decentralized finance (DeFi) and two sides of the crypto regulatory spectrum” (report), which aims to cover important issues in the crypto and blockchain industry. In this latest edition, released on February… Read More

OCC: Acting Comptroller of the Currency Brian P. Brook Steps Down

Acting Comptroller of the Currency Brian P. Brooks will step down from the Office of the Comptroller of the Currency (OCC) on January 14, 2021. OCC Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency, according to a statement by the bank… Read More

OCC Approves Anchorage Trust Company to Become Anchorage Digital Bank

The Office of the Comptroller of the Currency (OCC) has conditionally approved Anchorage Trust Company, a South Dakota chartered trust company, to become Anchorage Digital Bank, National Association. Founded in 2017, Anchorage has emerged as a top digital asset platform serving institutions investing in the crypto… Read More

Attorney Who Specializes in Crypto Says OCC Statement on Stablecoins is a “Game Changer”

The Office of the Comptroller of the Currency (OCC) issued an interpretive letter this week regarding the ability of national banks and federal savings associations to utilize stablecoins. The OCC concludes that a national bank or federal savings association may validate, store, and record payments… Read More

Happy New Year! LendingClub’s Acquisition of Radius Bank Approved by the OCC

LendingClub (NYSE:LC) will start 2021 on a high note it seems. The online lender and aspiring digital bank has had its acquisition of Radius Bank approved by the Office of the Comptroller of the Currency (OCC), according to many reports. Additionally, the decision letter was… Read More

Conference of State Bank Supervisors Targets OCC Chartering Authority of Fintechs in Lawsuit, Points Finger at Figure Technologies

The Conference of State Bank Supervisors (CSBS) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC), as well as Acting Comptroller Brian Brooks, regarding the agency’s ability to issue federal bank charters to Fintechs. The complaint mentions Figure Technologies, a… Read More

New Digital Asset Regulations in the US Might Require Banks to Treat Crypto Users like Any Other Business, Quigley from HASHR8 Confirms

The team at HASHR8 Inc., a cryptocurrency mining and media firm that aims to support the “decentralized growth” of hashrate (or computing power used to secure digital currency networks) while enhancing the security of blockchains, has confirmed that Bitcoin has broken record highs and sentiment… Read More

Fintech Firm Figure Technologies Is Pursuing National Bank Charter to Consolidate Oversight

The Office of the Comptroller of the Currency (OCC), an independent bureau within the US Treasury Department that serves to charter, regulate, and supervise all national banks and several other types of institutions, had introduced a specialized bank charter in 2018 that would not have… Read More

Perspective: Institutional Adoption of STOs and Digital Assets in 2020

Back in December, I wrote a piece for Coindesk’s Year in Review 2019 entitled “Security Token Offerings Are (Finally) Set for Takeoff in 2020”.  This was before word of COVID-19 became widespread and before many of the cataclysmic events of 2020 were even imaginable.  Thus… Read More

OCC Crypto Guidance Used to Assure National Banks as Certain States Move Aggressively into Digital Assets

Earlier this week, the Office of the Comptroller of the Currency (OCC) – the leading national bank regulator, provided guidance on banks and stablecoins. The guidance was designed to provide “greater regulatory certainty for banks” operating in this sector. Stablecoins are digital assets typically tied… Read More

OCC Issues Interpretive Letter on Banks and Stablecoins, SEC Comments on its Position Regarding Digital Assets

The Office of the Comptroller of the Currency (OCC), part of the US Department of Treasury, has issued an interpretive letter pertaining to banks and federal savings entities pertaining to “certain stablecoins.” Stablecoins are digital currencies that are based on a fiat currency or specific… Read More

OCC to Start Processing Charter Applications from Fintechs: Report

  The Office of the Comptroller of the Currency (OCC) will start processing Fintech applications to become federally chartered firms as soon as this week, according to a report. The acting Comptroller of the Currency Brian Brooks has only been managing the regulator since May… Read More

The Office of the Comptroller of the Currency Clarifies Banks Ability to Serve Crypto Firms. What Does this Mean for Digital Asset Businesses?

Recently, the Office of the Comptroller of the Currency (OCC) posted a letter clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers. Although recently we have seen improvements in banks providing services to crypto firms, many digital asset service providers… Read More

Comptroller of the Currency Brian P. Brooks Comments on Varo Bank Receiving Federal Bank Charter

Last week, Acting Comptroller of the Currency Brian P. Brooks virtually presented Varo Bank, N.A. its official charter. Varo Money has been in business for years having provided bank services by partnering with an already chartered bank. As of August 1st, 2020, Varo Bank can… Read More

Big News: Varo Money Becomes First US Fintech to Receive a National Bank Charter

Varo Money, Inc. has been granted its national bank charter from the Office of the Comptroller of the Currency (OCC) and secured regulatory approvals from the FDIC and Federal Reserve to open Varo Bank N.A. This represents the first consumer Fintech in the US to… Read More

OCC Issues Letter Clarifying Banks Ability to Provide Cryptocurrency Custody Services

The Office of the Comptroller of the Currency (OCC) has posted a letter clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers. The OCC is the lead bank regulator in the US. Recently, the OCC has issued several forwarding… Read More

The OCC Issues Proposed True Lender Rule that Should Clarify Online Lenders and Bank Relationships

The Office of the Comptroller of the Currency (OCC) has proposed a rule that would determine when a national bank or federal savings association (bank) makes a loan and is the “true lender” in the context of a partnership between a bank and a third… Read More

Financial Inclusion: Office of the Comptroller of the Currency Introduces Project to Help Underserved US Businesses and Individuals

The Office of the Comptroller of the Currency (OCC), an independent bureau within the US Department of the Treasury that serves to charter, regulate, and supervise all national banks  (among other responsibilities), has introduced an initiative that aims to promote greater financial inclusion of unserved… Read More

Colorado Ruling Throws Interesting Twist into Madden v. Midland Odyssey

One of the first moves the Acting Comptroller of the Currency Brian P. Brooks took upon assuming the leadership role at the Office of the Comptroller of the Currency was to further clarify his agency’s view on the Madden v. Midland case. The legal dust-up… Read More

The Office of the Comptroller of the Currency Pushes Forward with Possible Digital Banking Rules, Includes Crypto and DLT

The Office of the Comptroller of the Currency (OCC) has issued an advance notice of proposed rulemaking (ANPR) inviting public comment on its regulations regarding digital banking activities. The OCC is part of the US Department of Treasury and is the main banking regulator in… Read More

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