OCC allows banks to hold cryptocurrency assets for safekeeping


Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.


Digital dollar seems inevitable, but details remain fuzzy


The push for a public option to digitize government payments has gotten stronger, and the discussion has moved on from whether it should happen to how it should happen.


‘Banks are the infrastructure’: OCC leader on pandemic, recovery, CRA


Acting Comptroller of the Currency Brian Brooks says financial institutions are needed more than ever to “sustain existing businesses” and help entrepreneurs rebuild. Meanwhile, reforming the Community Reinvestment Act, he says, can “unblock opportunities” in minority neighborhoods.


OCC weighing major changes to its technology framework


The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."


‘The U.S. needs to take digital currency seriously’: Dave Birch


Competition over virtual currency could alter politics and global power structures, potentially to the detriment of the U.S., the author of "The Currency Cold War" argues.


JPMorgan to offer banking to crypto exchanges; news services sue SBA


The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs.


Facebook’s Libra gets new chief; warnings sounded on PPP loan forgiveness


Stuart Levey, HSBC’s chief counsel and a former U.S. Treasury undersecretary, will head the cryptocurrency project; lender groups say the demands of those small business loans are not so easy to meet.


Facebook weighs Libra revamp to address regulatory concerns


Facebook and its partners are considering redesigning the Libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators and rebuild momentum for the plan.


Bitcoin doesn’t launder money, Mr. Mnuchin. Money launderers do.


The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.


Mnuchin's late to the crypto regulation party


The Treasury secretary's statements are a sign that government agencies are still in the early stages of understanding this fundamentally new technology.