US Bank Regulator OCC Asks for Public Input on Cryptocurrency Use in Financial Sector
One of the federal bank regulators in the U.S., and the only one that charters national banks, is seeking public input on how it regulates new technologies and digital banking activities, including cryptocurrencies and blockchain tools. In an advanced notice of proposed rulemaking published Thursday, the Office of the Comptroller of the Currency (OCC) said it was reviewing its regulations around digital bank activities to ensure that these regulations “continue to evolve with developments in the industry.”.
Separately from crypto assets specifically, the notice asked about the use of distributed ledger technology (DLT) in banking activities and – as with the crypto-related activities section – asked if there are any specific issues that need to be clarified. The notice today indicates that Acting Comptroller Brooks is serious about modernizing banking regulations so that innovators can bring new solutions to the legacy financial system.”.
