In an address before the Blockchain Association, OCC Comptroller Jonathan V. Gould emphasized an urgent need to "reinvigorate" the chartering of new banks and for "entities that engage in activities involving digital assets and other novel technologies" to "have a pathway to become federally supervised banks."
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The CFTC Market Participants Division, Division of Market Oversight, and Division of Clearing and Risk issued three letters that allow, to a limited extent, the use of digital assets as regulatory margin.
The CFTC launched a digital assets pilot program allowing futures commission merchants to accept Bitcoin, Ether, and USDC as customer margin collateral in derivatives markets.
In a House Committee on Financial Services Final Report, staff "identified a pattern of Biden Administration prudential regulators abusing their regulatory, supervisory, and enforcement authorities to push entities involved in the digital asset ecosystem out of the U.S. financial system."
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation rescinded prior instructions regarding leveraged lending and directed banks to apply general risk management principles.