Brian Brooks

US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator

The U.S. Office of the Comptroller of the Currency (OCC) on Monday published a letter clarifying that national banks and federal savings associations can now hold reserves for stablecoin issuers in the country. According to the OCC’s interpretive letter, reserve accounts can either be funded through deposits from stablecoin issuers or deposits from individual stablecoin …

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Microstrategy’s $250 Million Bitcoin Buy Consequential

When a publicly owned company decides to invest about $250 million in an asset that was widely attacked more than a decade ago, it says a lot about how the world has changed. The reasons and the timing of Microstrategy’s bitcoin incursion could not have come at a better time for the company’s investors. The …

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OCC Chief Says Americans Gravitating Toward Digital Currencies: Urges Banks to Embrace Innovation

Bitcoin Transaction Fees Soar 550% in a Month, BCH, Dash Transactions Much Cheaper The cost of sending a transaction over the Bitcoin network rose sharply over the past month, as the price of the top cryptocurrency climbed higher. According to latest data from Bitinfocharts, the average bitcoin (BTC) transaction fee soared by as … read …

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Banks in US Can Now Offer Crypto Custody Services, Regulator Says

The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks provide custody services for cryptocurrencies. In a letter dated July 22, Senior Deputy Comptroller and Senior Counsel Jonathan Gould wrote that any national bank can hold onto the unique cryptographic keys for a cryptocurrency, clearing the way for national banks …

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Bitcoin-Friendly Top US Banking Regulator Aims to Solve Banks’ Problems With Decentralization

The new top banking regulator for the Trump administration sees “huge and great promise” in cryptocurrency. Focusing on decentralized networks, bitcoin, and rewriting existing regulations, he shares his views on cryptocurrency and the creation of the digital dollar. Top US Banking Regulator Is Pro-Crypto Brian Brooks recently became the new acting Comptroller of the Currency, …

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A Former Coinbase Lawyer Is About to Become Acting Head of US Bank Regulator

A former top lawyer at Coinbase is about to take the top job at a major U.S. bank regulator, at least temporarily. Brian Brooks, the first deputy comptroller and chief operating officer in the Office of the Comptroller of the Currency (OCC), is poised to become acting comptroller as his boss, Joseph Otting, is planning …

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