Wednesday, July 6

Current US Comptroller of the Currency Calls for Federal Collaboration with Crypto Intermediaries By Cointelegraph


©Reuters. Current US Comptroller of the Currency Calls for Federal Collaboration with Crypto Intermediaries

The current Comptroller of the Currency, Michael J. Hsu, highlighted the need to collaborate and coordinate with large “crypto brokers” to better understand the risks of the growing cryptocurrency market, which today has a total capitalization of more than $2. trillions.

Speaking at the Transatlantic Finance Forum on “The Future of Crypto Assets and Regulation,” Hsu pointed to a number of arenas – cryptocurrency exchanges, non-fungible tokens (NFTs) and the metaverse – where anyone with an Internet connection can be reversed by adding:

“The mainstreaming of cryptocurrencies has occurred despite regulatory and legal uncertainty, and a series of scams, hacks, and other disturbing developments. For financial regulators like me, this raises a number of questions. Where should the focus be? attention of regulators? What should be done? By whom? And why?

According to Hsu, the U.S. Office of the Comptroller of the Currency (OCC) reminded banks that they must prove their ability before obtaining federal permission to engage in activities involving cryptocurrencies.

Read the full article on Cointelegraph

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



es.investing.com