OCC Chief: Crypto Companies Applying for Federal Bank Licenses Should Not Be Treated Differently
TL;DR
OCC chief Jonathan Gould argues crypto firms applying for federal bank licenses should receive equal treatment as traditional financial institutions, citing no reason to discriminate against digital assets and noting the OCC's experience in regulating crypto-native banks.
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According to Foresight News , citing Cointelegraph, Jonathan Gould, head of the Office of the Comptroller of the Currency (OCC), stated that crypto companies seeking U.S. federal banking licenses should be treated the same as other financial institutions. Gould pointed out that electronic custody and custodian services have existed for decades, and there is no reason to discriminate against digital assets, nor should banks be limited to past technologies or businesses.
Gould revealed that the OCC has received 14 applications for new bank establishment this year, including entities engaged in digital asset activities, a number approaching the total of the past four years. He emphasized that entities engaged in digital asset activities should have access to become federally regulated banks, and that the banking industry has the capability to upgrade its infrastructure from Telegram to blockchain. Furthermore, addressing concerns from some banks and industry organizations regarding regulatory capabilities, Gould stated that the OCC has years of experience regulating crypto-native national trust banks such as Anchorage Digital and Erebor.