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US State Banking Regulator Sues Government Over Fintech Special Charter

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The US regulatory body for state banking has filed a lawsuit against the federal government for granting bank charters to fintech companies. The complaint calls into question the leniency of fintech "sandbox" charters. The Office of the Comptroller of the Currency (OCC), an arm of the US Department of the Treasury, has awarded these special charters to many blockchain- and cryptocurrency-centric...

Cryptocurrency Exchange Coinbase May Apply for a Banking License: Report

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Cryptocurrency brokerage firm Coinbase has met with US regulators to discuss applying for a banking license, according to an anonymous source familiar with the matter. The Wall Street Journal reports that the firm, one of the largest in the cryptocurrency industry, met with regulators at the US Office of the Comptroller of the Currency (OCC) in early 2018 to discuss applying for a national...

US Treasury Bureau Issues Guidelines for Fintech Bank Charters

The Office of the Comptroller of the Currency (OCC), an independent bureau within the U.S. Department of the Treasury, has released additional detail on evaluating national bank charter applications from Fintech or financial technology companies that engage in banking. The OCC believes making special purpose national bank (SPNB) charters available to qualified fintech companies would be in the...

US Regulators to Hold Defining Forum on Fintech in Washington

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Thomas J. Curry, Comptroller of the Currency, opened today the Office of the Comptroller of the Currency (OCC) Forum on Supporting Responsible Innovation in the Federal Banking System at OCC’s headquarters in Washington DC which brought together "thought leaders from banks, financial technology companies, academia, community and consumer groups." Curry’s agency is tasked with overhauling outdated...

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