Call it the CPR for Operation Choke Point.
Outgoing U.S. President Donald Trump has nominated Acting Comptroller Brian Brooks to take on a more permanent role leading the bank regulator.
Congressional Democrats blasted the OCC and Acting Comptroller Brooks for spending time on crypto during a pandemic.
If granted, the charter would replace the blockchain-based lender’s hodgepodge of state licenses with a single nationwide regulator.
The OCC’s July ruling that allowed banks to provide custody spurred the newfound interest, Brooks said.
The U.S. OCC has published fresh guidance, officially clarifying national banks can provide services to stablecoin issuers in the U.S.
Regulatory approval doesn’t mean banks are about to begin providing crypto custody, but it is accelerating a conversation about financial institutions safeguarding bitcoin.
A federal banking regulator is seeking public input on how cryptocurrencies interact with the national banking system and financial institutions.