OCC is Considering Crypto Banking Regulations.

The Office of the Comptroller of the Currency (OCC), might be hoping to overcome any barrier between digital currencies, blockchain innovation, and customary financial organizations.

The monetary controller as of late gave an Advance Notice of Public Rulemaking (ANPR). As indicated by an official statement distributed on Thursday, the OCC is requesting that the open remark on conceivable interface focuses among blockchain and the budgetary business.

The ANPR distributed by the budgetary controller, titled “National Bank and Federal Savings Association Digital Activities,” is additionally outfitted towards refreshing the current administrative arrangements administering the connection between advanced resources and banks.

A passage from the notification peruses:

“The goals of this review are to evaluate whether these regulations effectively take into account the ongoing evolution of the financial services industry, promote economic growth and opportunity and ensure that banks operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.”

Wall Street banks have, in the past, denied their customers access to crypto payments. The OCC’s current position might be a precursor to banking-type regulations for cryptocurrencies in the U.S. Back in August 2019, Secretary of State Mike Pompeo called for virtual currencies to fall under the e-payment system regulations.

The patchwork of State and Federal laws continue to work against the emergence of clear-cut crypto regulations in the U.S. Some exchanges have even moved their operations offshore or created specific platforms for American traders, geofencing numerous altcoin trading pairs.

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