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Figure Technologies Abandons Quest to be U.S. Chartered Crypto Bank After Three-Year OCC Fight

“Had Figure not withdrawn its application, both law and common sense would have dictated that regulators reject it,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, in a statement that accused the company of making insufficient plans to meet a bank’s customary obligations under the

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Blockchain Association seeks info from Fed, FDIC, and OCC on ‘de-banking’ crypto firms

The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of banks including Signature, Silicon Valley Bank, and Silvergate.In a March 16 notice, the Blockchain Association said it had submitted Freedom

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OCC makes its staff available for fintech-related discussions

The United States Office of the Comptroller of the Currency, or OCC, has announced its representatives will be available on a one-to-one basis to discuss financial technology.In a Nov. 3 announcement, the OCC said entities considering fintech products and services, partnerships with banks, or concerns “related to responsible innovation in

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US Fed vice chair Michael Barr favors hard line on crypto, OCC acting head no friendlier

Two United States government financial officials gave speeches on Sept. 7 in which they expressed their positions on crypto regulation. Both had reservations about crypto.Michael Barr, who was recently appointed United States Federal Reserve Board vice chair for supervision, made his first speech in his new capacity at the Brookings

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Acting OCC comptroller calls for standards on stablecoins

Michael Hsu, the acting head at the United States Office of the Comptroller of the Currency, said stablecoins need standards comparable to the early internet.In a written statement following his appearance at the Artificial Intelligence and the Economy event in Washington D.C. on Wednesday, Hsu said stablecoins lacked “shared standards,”

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OCC Comptroller calls for federal collaboration with crypto intermediaries

The Acting Comptroller of the Currency, Michael J. Hsu, highlighted the need for collaboration and coordination with large crypto intermediaries to better understand the risks within the growing $2 trillion cryptocurrency market. Speaking at the Transatlantic Finance Forum on the topic of “The Future of Crypto-Assets and Regulation”, Hsu pointed out

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