news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
news4global
No Result
View All Result
Home Business

Senator Warren takes aim at changing rules on crypto offerings from banks

August 4, 2022
Reading Time: 3 mins read
0
Senator Warren takes aim at changing rules on crypto offerings from banks
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

January 30, 2023
Fed governor explains who needs crypto regulation and why demand for it is growing By Cointelegraph

ZigZag Community Rushes Behind ZZ Token: Airdrop Reward By CoinEdition

January 29, 2023

Senator Elizabeth Warren (D-Mass.) is circulating a letter among her Senate colleagues that would withdraw legal guidance for banks holding and trading cryptocurrencies, Bloomberg News reported Aug. 4.

The letter reportedly calls the Office of the Comptroller of the Currency (OCC) to work with the Federal Reserve (Fed) and the Federal Deposit Insurance Corp. (FDIC) in replacing some Trump-era regulations on crypto custodial services with more consumer-centric approaches.   

Citing to an aide for the senator, a member of the Senate Banking Committee, Bloomberg reported that the senator is gathering signatures from her colleagues before the final version is sent to the OCC. 

Known details from the letter show that Warren is concerned that the OCC has failed to properly address the risks associated with crypto-related banking activities, according to Bloomberg.

The letter reportedly has a series of questions for the OCC, including naming the regulated banks currently offering crypto-related services and the estimated total volume of those activities.

The Acting Comptroller responds.

When asked about the issue, the Acting comptroller of the OCC, Michael Hsu, said he had not received any letter, although it would be an interesting topic to respond to, Bloomberg reported.

When interviewed at the Philadelphia Federal Reserve’s Sixth Annual Fintech Conference on Thursday, Michael responded by saying:

“I am a very strong believer that anything that comes into the banking system in crypto has to be safe, sound and fair, and we’re going to do what’s necessary in a way that’s sustainable, durable, robust. I think we’re doing a pretty good job. A whole bunch of stuff just happened, and the banking system is in pretty good shape, knock on wood. I think part of that is the actions we’ve taken.”

US stance on banks offering crypto custodial services

In the last year of the Trump administration, the OCC established that a national bank might provide cryptocurrency custody services on customers’ behalf and permissible banking services to any lawful business they choose, including cryptocurrency businesses, so long as they effectively manage the risks and comply with applicable law, Bloomberg reported.

This Biden administration reportedly clarified this rule when the new Acting Comptroller Hsu explained that a bank needs written notification of the supervisory office’s non-objection. 

Banks interested in offering crypto custody were also obligated to demonstrate their willingness to conduct these activities safely by putting up proper appropriate risk management systems. 

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Share76Tweet47

Related Posts

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

by admin
January 30, 2023
0

"Post the covid-19 pandemic related lockdowns and restrictions, many companies have now adopted a hybrid working arrangement wherein employees are...

Fed governor explains who needs crypto regulation and why demand for it is growing By Cointelegraph

ZigZag Community Rushes Behind ZZ Token: Airdrop Reward By CoinEdition

by admin
January 29, 2023
0

ZigZag Community Rushes Behind ZZ Token: Airdrop Reward Wu Shuo tweeted mentioning the tweet of Kedar’s tweet regarding the issue...

Bitcoin [BTC] miner to face class action lawsuit… Details inside

Bitcoin [BTC] miner to face class action lawsuit… Details inside

by admin
January 28, 2023
0

Argo Blockchain is facing a class action lawsuit filed by its investors.  The lawsuit accuses the firm of misleading investors...

State crypto commission offers policy recommendations | State news

State crypto commission offers policy recommendations | State news

by admin
January 28, 2023
0

A state task force with the mission to assess state policy regarding cryptocurrencies acknowledges that digital assets “offer material opportunities...

Wyoming crypto bank’s Federal Reserve application denied

Wyoming crypto bank’s Federal Reserve application denied

by admin
January 27, 2023
0

CHEYENNE, Wyo. (AP) — The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership,...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023
Snoop Dogg, Billy Ray Announce NFT Project; Elon Musk Backs Crypto Payments For Twitter

Snoop Dogg, Billy Ray Announce NFT Project; Elon Musk Backs Crypto Payments For Twitter

January 31, 2023
Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

January 31, 2023

Latest News

Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global