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Leading US Banking Regulator Supports Federal Licenses for Crypto Payment Companies
Summary: Brian Brooks, chief operating officer at the US Office of the Comptroller of the Currency (OCC), said on Monday that crypto companies offering payment services should be allowed to obtain federal licenses as financial institutions, according to CoinDesk.
Brian Brooks, chief operating officer at the US Office of the Comptroller of the Currency (OCC), said on Monday that crypto companies offering payment services should be allowed to obtain federal licenses as financial institutions, according to CoinDesk.
“Crypto is one of those areas where we have to ask ourselves, does it make more sense to think of crypto projects as local projects or global projects. If they’re global, then the rationale for a single national license makes more sense,” said Brook at CoinDesk’s virtual conference.
Brooks addressed that crypto startups working on stablecoins, remittances, and some tokens might resemble conventional banks. “It looks a lot like crypto is banking for the 21st century,” he said.
By Yiran Dai
Tags: Banks,Cryptocurrency,Cryptocurrency Payment
Link: Leading US Banking Regulator Supports Federal Licenses for Crypto Payment Companies [Copy]
