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The recent application will first go for public comments for a 30-day period and later will move towards OCC approval. Metal Pay expects a decision from the OCC within the next four months.Metal Pay, the US-based peer-to-peer crypto payments startup, has recently applied for a National Bank Charter in America.
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Peer-to-peer crypto payments platform Metal Pay has filed to become a national bank in the U.S.The startup filed a charter application for “First Blockchain Bank and Trust, N.A.” with the Office of the Comptroller of the Currency (OCC) on Feb. 3, CEO Marshall Hayner told CryptoX. Metal Pay will shortly
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OCC acting Chief Brian Brooks asserts that blockchain is the future of banking and that financial institutions will eventually be blockchain-based. The Office of the Comptroller of the Currency (OCC) announced on Wednesday that it had bestowed a federal bank charter on crypto custodian Anchorage. The bank, which had previously been
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Brian Brooks, the acting head of the U.S. Office of the Comptroller of the Currency and former chief legal officer to Coinbase, has warned against the Consumer Financial Protection Bureau receiving the right to grant “Fintech Charters.”Earlier this week, the CFPB’s Taskforce on Consumer Financial Law published a report featuring
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Digital asset custodian Aegis Custody has received the South Dakota Division of Banking’s blessing to start forming a trust company in the state.The full-service digital asset shop must clear a series of minor regulatory hurdles before it can secure the trust charter necessary to do business, President Michael McCarty said.
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The cryptocurrency and banking worlds continue to draw closer together with digital asset custodian Anchorage seeking a national charter from the U.S. Office of the Comptroller of the Currency.The startup’s trust company unit, based in South Dakota, has applied to the OCC to convert to a national bank, according to
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Cred is the first U.S. crypto lender to file for bankruptcy in the country. Ripple is opening regional headquarters in the Middle East. President-elect Joe Biden’s incoming administration appears to be courting at least two pro-crypto political actors for cabinet positions.Top shelfBankruptcy filingCrypto lender Cred filed for bankruptcy protection this
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If granted, the charter would replace the blockchain-based lender's hodgepodge of state licenses with a single nationwide regulator. Source
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Stock and cryptocurrency trading platform Robinhood has withdrawn its bank charter application with the Office of the Comptroller of the Currency.As CNBC reported on Nov. 27, Robinhood voluntarily decided to withdraw its application with the regulator due to the challenges the company could face in receiving a charter. A
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The New York Department of Financial Services has granted Fidelity Digital Assets Services (FDAS) a charter to operate as a limited liability trust company to custody digital currencies and execute crypto trading. Source
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