Sun. Apr 11th, 2021

The Office of the Comptroller of the Currency (OCC) published an advanced notice of proposed rulemaking on Thursday, saying that it is reviewing its regulations around digital bank activities to ensure that these regulations “continue to evolve with developments in the industry.” The notice was signed by Acting Comptroller of the Currency Brian Brooks, the former chief legal officer of Coinbase, who took office at OCC this month. 

“Banks must be able to meet the needs of the consumers that rely on them.”

The US bank regulator published two notices on Thursday, a Notice of Proposed Rulemaking, and an Advance Notice of Proposed Rulemaking, which cover a range of topics related to its remit as a regulator of US banks. The second notice published by the OCC focuses on digital activities and hones in on the topic of crypto. In a statement alongside notices, the bank regulator said that it is part of the agency’s effort to support the evolution of the federal banking system and its ability to meet the needs of the consumers, businesses, and communities it serves. 

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