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OCC POSITION ON CRYPTO

On January 13, 2022, Acting Comptroller Michael J. Hsu Remarks shared remarks regarding Crypto with the British-American Business Transatlantic Finance Forum Executive Roundtable. Crypto has rapidly gone mainstream. Five years ago, the total market capitalization of all cryptocurrencies was around $100 billion. Today it is over $2 trillion. Anyone with an internet connection can invest in over 12,000 different cryptocurrencies, purchase digital art and collectibles through non-fungible tokens (NFTs), and buy “property” in the metaverse. […]

MCWILLIAMS RESIGNS

On December 31, 2021, the Federal Deposit Insurance Corporation announced that Chairman Jelena McWilliams was resigning effective February 4, 2022. Jelena McWilliams was appointed by President Donald Trump in 2018 to serve a five-year term as chairman of the independent regulatory agency. But following repeated disagreements with her Democratic colleagues over potential banking revisions, she issued a statement on New Year’s Eve saying she would leave her post on Feb. 4. The move is likely to give […]