Office of the Comptroller of the Currency – DIGIT INFO

‘Midnight Massacre:’ SEC Crackdown on Crypto Staking Services Prompts Speculation of Further Enforcement Actions

DIGIT — Sat, 11 Feb 2023 02:04:58 +0000

On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution […]

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Stablecoin issuer Paxos reportedly probed by New York regulators

DIGIT — Fri, 10 Feb 2023 05:42:03 +0000

While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.

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Biden to nominate anti-crypto and anti-big bank law professor to run the OCC

DIGIT — Thu, 23 Sep 2021 02:04:41 +0000

Omarova has stated she hopes to “end banking as we know it” but believes large financial firms can abuse the crypto market outside of regulators’ view.

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OCC Grants Crypto Firm Paxos ‘Conditional Approval’ for US Bank Charter

DIGIT — Sat, 24 Apr 2021 21:30:33 +0000

The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize the firm’s future banking plans. Paxos Granted Preliminary […]

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Former Comptroller of the Currency Brian Brooks to Lead Binance’s US Trading Platform

DIGIT — Tue, 20 Apr 2021 22:30:04 +0000

A former top regulator and acting head of the U.S. Comptroller of the Currency, Brian Brooks has been appointed the CEO of crypto exchange Binance.us. Brooks will lead the exchange on May 1st and replace the company’s current lead, Catherine Coley. Binance has hired an individual with ties to Washington, as the company’s American trading […]

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OCC’s Brian Brooks Says China Owns Bitcoin but Crypto World Disagrees: Chinese Crackdown Pushes Miners Away

DIGIT — Thu, 19 Nov 2020 12:03:38 +0000

Bitcoiners on social media have panned remarks by acting U.S. currency comptroller Brian Brooks that bitcoin is owned by China due to the country’s disproportionate share of the crypto’s mining power. The bitcoiners argue that the disproportionate number of miners stationed in China only means the corresponding block rewards will reflect this imbalance. They add […]

The post OCC’s Brian Brooks Says China Owns Bitcoin but Crypto World Disagrees: Chinese Crackdown Pushes Miners Away appeared first on Bitcoin News.

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US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space

DIGIT — Thu, 06 Aug 2020 03:03:09 +0000

A bipartisan quartet of US congressmen wants the IRS taxation policy not to dissuade taxpayers from participating in blockchain token staking. These politicians believe America’s ingenuity can help drive this promising staking technology. The four congressmen are Bill Foster (D) of Illinois, Darren Soto (D) of Florida, Tom Emmer (R) of Minnesota, and David Schweikert […]

The post US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space appeared first on Bitcoin News.

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Robinhood Reportedly Considering Formal Banking Services

DIGIT — Thu, 21 Jun 2018 07:04:12 +0000

Unnamed sources suggest popular free crypto and stock trading application (app), Robinhood, is negotiating with US regulators about prospects for it becoming a bank, complete with traditional services such as savings accounts. It’s still early going, and very preliminary, but such an arrangement could well be the future of banking. Also read: Bitcoin More Influential […]

The post Robinhood Reportedly Considering Formal Banking Services appeared first on Bitcoin News.

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