certify
Home arrow Article arrow Article Detail

Top US Banking Regulator disclosed Positive Cryptocurrency Regulation Coming by the end of Trump Term

Profile Image

Crypto Business World Follow

INDIA

Dec, 14 2020

Dec, 14 2020

likes | comments 0

Article Image

The positive cryptocurrency regulation will come in a few weeks, before the end of the Trump term, confirmed by the leading U.S. banking regulator.


In accordance with the regulator, the new regulation is going to work for everyone and this will make it effortless for crypto investors to have knowledge of how to invest, consequently it will attract more institutional investors.


On Friday, in an interview with CNBC's Squawk Box, Brain Brooks, an Acting Comptroller of the Currency responded some questions regarding the forthcoming U.S. cryptocurrency regulation.


Brooks is the chief officer of the Officer of the Comptroller of the Currency (OCC) and the director of the federal banking system.


Around 1200 National Banks, Federal branches of foreign banks and federal savings associations are supervised by OCC that regulates about 70% of all businesses of banking in the U.S.


Brain Armstrong, the Chief Executive Officer at Coinbase Twitter on November 25 regarding the rumors that the Treasury Department might rush out crypto regulation by the end of the Trump term.


According to the Brooks, who was the Chief Legal Officer at Coinbase explained that the clarification is required about what is allowed and what not, for instance, it must be cleared whether banks can directly linked to blockchain as means of payment, the answer should be yes.


Brooks further highlighted that few facets of the latest regulation will furnish clarity around the essence of crypto assets. He also believes that 50 more regulations are needed instead of two but what is must is the clarification of what’s allowed.


Some guidance and answers should also be given, for instance, in order to make institutions feel comfortable while adopting cryptocurrencies, can banks custody cryptocurrencies? He further added that the consequences of the clarifications would be unexpectedly effective.


likes | comments 0

Profile Image

Crypto Business World

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Innovative Bitcoin Tool Empowers Billions of Companies with Lightning-Fast BTC Payments, Revolutionizing the Trillion-Dollar Market

The LINER (Lightning Index Rate) index is a cutting-edge tool that Amboss, a well-known Lightning data provider, has released in a bid to spur business adoption of Bitcoin's Lightning Network.;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.