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Brian Brooks: "There Will Be More Crypto-banks Soon"

Mary Liu

Summary: Brian Brooks, the Acting Comptroller of the Currency, stated on the Unchained podcast that crypto companies need to develop risk management tools, like Anti-money Laundering (AML) or Bank Secrecy Act (BSA) tools, in order to operate well with banks.  Brooks revealed that the highest levels of government have different opinions on cryptocurrencies, but this trend is positive ...

Brian Brooks, the Acting Comptroller of the Currency, stated on the Unchained podcast that crypto companies need to develop risk management tools, like Anti-money Laundering (AML) or Bank Secrecy Act (BSA) tools, in order to operate well with banks. 

Brooks revealed that the highest levels of government have different opinions on cryptocurrencies, but this trend is positive for the entire industry. Brooks admits there are risks, but the benefits cannot be ignored. He added: "Based on early pipeline inquiries, there will be more crypto-banks soon."

By Mary Liu

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