OCC boss says ‘no justification’ to judge banks and crypto differently
PositiveCryptocurrency
- Jonathan Gould, the head of the Office of the Comptroller of the Currency (OCC), stated that there is no justification for treating banks and cryptocurrency companies differently, advocating for a pathway for crypto firms to be supervised within the banking system. This perspective aligns with the OCC's ongoing efforts to integrate cryptocurrency into traditional banking frameworks.
- This development is significant as it reflects the OCC's commitment to fostering innovation in the financial sector while ensuring regulatory oversight. By allowing crypto companies a route to supervision, the OCC aims to enhance the legitimacy and stability of the cryptocurrency market.
- The OCC's stance comes amid ongoing tensions between traditional banks and the growing cryptocurrency sector, as some banks resist the integration of crypto services. The agency's recent guidance permitting banks to hold cryptocurrencies for specific purposes, such as covering blockchain network fees, indicates a shift towards embracing digital assets and highlights the evolving landscape of financial regulation.
— via World Pulse Now AI Editorial System
