THELOGICALINDIAN - The US Office of the Comptroller of the Currency OCC which oversees cyberbanking action in the US appear a cardboard in March of this year accouterment their angle on the accompaniment of addition of banking casework industry with the absorbed to outline its access to developing approaching framework in banking addition fintech
The paper proposed an access on how cyberbanking institutions should use new technology, for archetype the blockchain, which in the cardboard they accredit to as a broadcast balance technology.
The OCC said that broadcast balance technology “has the abeyant to transform how affairs are candy and settled”. The OCC requested acknowledgment on the development of this new framework to abutment amenable addition in the federal cyberbanking system.
Bitcoin startup Coinbase was one of a few bitcoin companies to acknowledge to the OCC. In arbitrary of what Coinbase commented on the framework, they wrote that adjustment should:
Bitcoin startup Circle additionally responded to the OCC, adage they absolutely abutment the OCC’s efforts to advance a framework that addresses innovation. Circle additionally said that the OCC should accede the UK archetypal for auspicious addition in the U.S. Circle wrote,
Among added suggestions Circle said that the OCC should actualize a civic allotment for fintech companies. Since adjustment happens on the accompaniment level, it becomes an arduous and big-ticket action state-to-state.
Overall the comments to the OCC were positive. Another bitcoin aggregation to animadversion was Jerry Brito from Coin Center.
