• Brian Brooks leaves OCC
    Cryptocurrencies,  Regulation

    Crypto-friendly Brian Brooks steps down as bank overseer

    The former Coinbase executive’s rulings at the Office of the Comptroller of the Currency aided the cryptocurrency industry by allowing banks to custody and make payments with stablecoins

    During his eight months at the head of the Office of the Comptroller of the Currency, Brooks, a former general counsel at Coinbase, enacted a number of reforms that helped push the cryptocurrency industry farther into the banking industry’s mainstream, most recently authorizing banks to use stablecoins to make payments and for other transactions on behalf of customers.

  • OCC banks can use stablecoins
    Regulation

    In a ‘huge’ win, regulator says banks can make payments with stablecoins

    Circle’s Jeremy Allaire said the ruling by the Office of the Comptroller of the Currency ‘helps put the U.S. in a leadership position in embracing the power of public blockchains’

    Allaire said Acting Comptroller of the Currency Brian Brooks’ latest move is “a HUGE way to start 2021, the year that crypto and stablecoins go mass market!” He added, "the significance of this can’t be understated.”

  • NYDFS approves yen stablecoin
    Alt coins,  Regulation

    In U.S. first, New York regulators approve yen-backed stablecoin

    With the New York Department of Financial Services’ approval, Japanese IT giant GMO Internet Group will also issue a dollar-backed stablecoin

    The company has been granted a New York State charter to operate as a limited liability trust company by the Department of Financial Services, according to Linda Lacewell, the Superintendent of Financial Services.

  • Biden friend to crypto Allaire
    Cryptocurrencies,  Regulation

    Biden Administration will be crypto’s friend: Circle’s Jeremy Allaire

    The CEO of the USDC stablecoin-issuer predicted President-elect Joe Biden’s administration will see cryptocurrencies as a way to ‘make America more competitive’

    Speaking on CNBC’s Squawk Box on Dec. 7, Allaire said “they will ultimately be supportive because this is an infrastructure change as big as the initial commercial internet. That said, Allaire noted that the administration is facing pressure to regulate cryptocurrencies and Bitcoin more aggressively, from both the left and the right.