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29 September 2020

Federal payments licensing push could boost crypto adoption

Federal payments licensing push could boost crypto adoption


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However, analysts predict that many states will push back against federal licensing, citing an ongoing dispute over the OCC’s fintech charter with the New York Department of Financial Services. .

“The OCC’s proposed payments charter is no different than the fintech charter already rejected in federal court and subject to a nationwide order preventing the OCC from accepting applications from a company that does not take deposits,” the letter said. 

Despite this, the Office of the Comptroller of the Currency announced it was prepared to accept applications from payment firms for a federal banking charter last week

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