Cypher
BlockchainCrypto BankingCryptocurrencyCryptocurrency RegulationNewsStablecoin

US OCC Says Its Staff Is Available For Discussions Related To Fintech

The US-based Office of the Comptroller of the Currency has declared that the agency’s representatives will remain available for discussions specified for financial technology. A declaration was made by the OCC on the 3rd of November in which it stated that the companies attempting to discuss matters dealing with the fintech services, products, and collaborations with banking institutions or the apprehensions related to them can contact the agency.

OCC Declares that Its Staff Would Be Available for Discussions Covering Fintech

The OCC mentioned that the firms are permitted to participate in 1-hour long conferences with the institution’s staff on the 14th and 15th of December this year. The governmental agency of the United States revealed that it will observe the requests as well as the proposed discussion topics along with the virtual conference times. After the declaration of the OCC, the agency specified that it has a strategy to develop an Office of Financial Technology.

As per the agency, the fintech arm would start in the coming year as an endeavor to get a comprehensive understanding of the fintech world. The agency also revealed that it has issued the request form through which the opportunity to have an open discussion could be availed. It has recommended that a document or the rest of the details will potentially not be accessible openly.

Cypher

In the declaration, the OCC disclosed that 1 of the 5 ways to directly contact the government agency will be the planned office hours. The OCC branch additionally declared fintech symposiums, listening sessions, participation in public speeches, as well as banking and financial meetings. The OCC appears to be lengthening the regulatory endeavors in its power over fintech companies.

📰 Also read:  Sam Fried Pleads for Softer Sentence, Hints Recovering FTX Funds

OCC’s Acting Head Calls for Specific Regulatory Standards for Stablecoins

In the previous year, the agency played a vital role in pushing back against the attempts made by the Consumer Financial Protection Bureau for chartering non-depository companies based on financial technology. Michael Hsu, the acting head at OCC, has additionally pointed out that there is a requirement for certain regulatory standards to cope with the sector of stablecoins.

📰 Also read:  Stacks Experience 13% Uptrend, As Market Maintains Bullish Trend

On the other hand, the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the Federal Reserve have stood in opposition in the case of dealing with the enforcement and regulatory cases related to digital assets.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Crypto Malware: What Is It And How Can It Be Detected?

Cypher

Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content