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OCC Acting Director Says Crypto Custody Licenses Are Under Review
Summary: According to Coindesk, Michael Hsu, the new acting administrator of the Office of the Comptroller of Currency (OCC), told the Senate Banking Committee on Tuesday that the crypto custody licenses are under review. He said that some of the past crypto initiatives have not "coordinated with all stakeholders", but he supports granting licenses to fintech ...
According to Coindesk, Michael Hsu, the new acting administrator of the Office of the Comptroller of Currency (OCC), told the Senate Banking Committee on Tuesday that the crypto custody licenses are under review.
He said that some of the past crypto initiatives have not "coordinated with all stakeholders", but he supports granting licenses to fintech companies.
He said: "Put simply, denying a charter will not make the problem go away, just as granting a charter will not automatically make a fintech safe, sound, and fair. I will expect any fintechs that the OCC charters to address the financial needs of consumers and businesses in a fair and equitable manner and support the important goal of promoting the availability of credit."
By Mary Liu
Tags: Crypto Custody,Michael Hsu,OCC
Link: OCC Acting Director Says Crypto Custody Licenses Are Under Review [Copy]
