OCC Approves Conversion of Anchorage Digital Bank
The OCC today granted conditional approval for the conversion of the South Dakota-chartered Anchorage Trust Company to become Anchorage Digital Bank.
Browsing: Cryptocurrency
OCC Greenlights Use of Stablecoins for Payments Activities
In an interpretive letter yesterday, the OCC verified that national banks and federal savings associations may use independent node verification networks, or INVNs, and stablecoins, to engage in and facilitate payment activities.
FinCEN Proposes New Reporting, Recordkeeping Requirements for Crypto Transactions
With criminals increasingly turning to virtual currencies to move illicit funds, the Financial Crimes Enforcement Network last week proposed new requirements for certain transactions involving convertible virtual currency or digital assets with legal tender status.
FBI Director: Cyber Criminals Targeting Banks’ Third Parties
When asked about threats specifically targeting banks, Federal Bureau of Investigation Director Christopher Wray urged banks to be wary of “cyber criminals targeting the vulnerabilities in third-party services” as a way in to financial institution data.
Brooks: OCC Continuing Effort to Clarify Regulatory Treatment of Stablecoins
The OCC is continuing its efforts, working with other agencies, to facilitate banks’ ability to engage with digital currencies, Acting Comptroller Brian Brooks said during a press event this morning.
OCC Gives Banks Green Light to Hold Deposits Backing Stablecoins
In an interpretive letter, the OCC gave institutions under its supervision the greenlight to hold deposits that serve as reserves for “stablecoins.”
How U.S. Banks Can Start Planning to Deliver Crypto Custody Services
Will the OCC’s clarification that U.S. banks can hold a cryptocurrency’s unique cryptographic keys turn out to be the onramp into a new revenue stream?
OCC: Banks May Offer Crypto Asset Custody Services
In an interpretive letter today, the OCC said that national banks and federal savings associations may provide cryptocurrency custody services for their customers.
Have Virtual Currencies Virtually Arrived?
As bitcoin and other private digital currencies gain wider acceptance, is a “central bank digital currency” on the way soon?
OCC Issues Proposals on Bank Activities, Innovation
The OCC today proposed changes to its rules for national bank and federal savings association activities and operations to ensure that they can continue to meet the shifting needs of consumers, businesses and communities.