The Joe Biden administration should revoke the decisions of the Office of the Comptroller of the Currency (OCC) within the US Treasury regarding cryptocurrencies and stablecoins. A member made the corresponding statement of the US House of Representatives, Maxine Waters writes The Block.
In July 2020, the US regulator allowed national banks and federal savings associations to provide cryptocurrency custodial services.
In September, the OCC made a similar decision regarding stablecoins pegged to a 1:1 Fiat currency.
According to waters, the US authorities should change their policy on digital assets. She did not justify a position on revoking permits but indirectly hinted to Biden about the possibility of changing the OCC’s leadership.
Previously, the Congresswoman has repeatedly expressed concern about the project Diem Association (formerly Libra Association). In June 2019, Waters demanded that Facebook suspend digital currency development, and two months later, presented a work plan for its further study.
Recall that in November, six members of the US Congress criticized the head of the OCC, Brian Brooks, for “excessive attention” to the regulation of cryptocurrencies and the issue of stablecoins.