U.S. OCC Chief: No Reason to Treat Banks and Crypto Institutions Differently

According to ME News, on December 9 (UTC+8), Jonathan Gould, head of the US Office of the Comptroller of the Currency (OCC), stated that crypto companies applying for federal banking licenses should receive “equal treatment” to traditional institutions, with no reason for regulatory distinctions to be made artificially. He said that digital asset custody and safekeeping are not new concepts, and that electronic business in this area “has continued for decades.” Gould emphasized that the banking system is capable of evolving “from the telegraph era to the blockchain era” and should not be constrained by outdated technologies or business frameworks. He revealed that the OCC has received 14 new bank applications this year, including new business entities involving digital assets—almost equal to the total of such applications over the previous four years, highlighting a significant increase in demand. Gould believes that allowing institutions engaged in crypto and innovative technologies to obtain federal regulation is a necessary path to ensure that the financial system continues to keep pace with the modern economy. He also addressed concerns from some banks about crypto companies obtaining licenses, stating that the regulatory framework is fully capable of supervising them. (Source: ME)