The recent relaxation of a top of the American regulator of her position on crypto does not mean that the crusade of the US government against industry is over, according to Custodia Bank CEO Caitlin Long.
At the end of last week, the office of the Comptroller of the Currency (OCC) announced that banks in the US could now continue a series of crypto services, including guardianship and certain Stablecoin activities.
Said acting comprollure of the currency rodney E. Hood,
“Today’s action will reduce the burden for banks to enter into crypto-related activities and to ensure that these banking activities are treated consistently by the OCC, regardless of the underlying technology. I will continue to work diligently to ensure that the regulations are effective and not exaggerated, while retaining a strong federal banking system. “
However, Long says that Operation Choke Point 2.0 – a term that is often used to describe the secret agenda of the US government to suppress the crypto industry – is not over, unless two other American supervisors leave their unfriendly attitude on digital assets.
Last December, a free -freedom of information ACT (FOIA) request from the Crypto Exchange Coinbase found dozens of cases in which the Federal Deposit Insurance Corporation (FDIC) banks asked to freeze crypto -related services.
Long also calls on the FED to allow Custodia – a prominent digital guardianship bank for assets – to have a master’s account or a bank account that keep financial institutions directly to the Federal Reserve.
Says long,
“In the midst of all cheers about the OCC news, Operation Choke Point 2.0 (OCP 2.0) is not over:
1. Fed and FDIC also revoke their anti-crypto guidelines, which is still in force (Fed & FDIC was much more harmful to crypto-banking than OCC) and
2. Custodia Bank has its Fed Master account.
Context: Banks that wanted to serve crypto But the regulatory pressure did not get (OCP 2.0) were usually fed and benches regulated by FDIC did not run. The movement of OCC is a great positive and has implications for the other two agencies, but FDIC and FED anti-crypto guidance are still in force.‘
The Huiscommissie for Supervision and Reform of the Government recently asked access to non-rejected documents from the FDIC to investigate allegations that banks deliberately denied the crypto industry.
The FDIC has not formally answered the request.
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