Six members of Congress раскритиковали the Office of the Comptroller of the Currency (OCC) within the US Treasury for its focus on cryptocurrencies and fintech.
The lawmakers’ dissent was stirred by the approach of the OCC’s head, Brian Brooks, a former lawyer for the cryptocurrency exchange Coinbase, to setting priorities. In their view, the head of the agency should not be involved in cryptocurrency regulation and the issuance of stablecoins while the country is in the midst of a crisis.
“Our concerns about the OCC’s excessive attention to crypto assets and the financial services associated with them are shared by the American Bankers Association and other associations,” the statement said.
The lawmakers argue that Brooks is making shortsighted decisions and acting unilaterally. His stance could adversely affect banking and financial activity outside the OCC’s jurisdiction, the members of Congress said.
They have sent a set of questions to the agency head. Brooks is to provide explanations by December 10.
On September 21, the OCC allowed national banks and federal savings associations to hold reserves of stablecoin issuers. The latter must be pegged to fiat currency at a 1:1 ratio.
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