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US Banking Regulator Virtually invites innovators to discuss technology
The Office of the Currency Comptroller (OCC) and the Consumer Financial Protection Bureau (CFPB) have announced on 2 July that they are opening virtual times for business players looking for innovation and new banking technologies.
More places to meet regulators for crypto
The new meetings are closed for one hour and are currently scheduled to take place for only two days from 29 to 30 July. The interested parties must register by 17 July.
They can become a more regular feature depending on the success of these meetings. The FinHub Securities and Exchange Board recently announced virtual meetings to build on a long tradition of peer-to - peer participation.
Similarly, in February the Commodity Future Trading Commission held one-off meetings before COVID-19 lockouts in the US.
Fintech at OCC under Brooks is growing engagement
A host of pro-fintech and crypto-moves from the OCC follows today's announcement as Brian Brooks, a former legal team of Coinbase, became the office's acting head.
Brooks has a remarkable interest in onboarding the traditional banking system cryptography.
The OCC published a half-year risk perspective earlier this week — a recurring report on how the banking industry is working. In this issue, the pandemic threats and the risk of remote operation, warning against higher cyber security risks, and potential fraud in connection with the stimulus programmes were specially mentioned.
'This is a trend,' a member of the OCC staff told Cointelegraph before COVID-19 in June this year. A new avenue for [bad actors] was clearly opened by Covid-19.
