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17 January 2021

US Financial Services Chair Tells Joe Biden to Rescind OCC Crypto Guidance - CoinDesk

US Financial Services Chair Tells Joe Biden to Rescind OCC Crypto Guidance - CoinDesk


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Representative Maxine Waters, who chairs the powerful House Financial Services Committee, recommended that President-elect Joe Biden rescind or monitor all of the cryptocurrency-related guidance issued by the Office of the Comptroller of the Currency.

Under the “digital banking” section, Waters specifically recommended that Biden’s team rescind the OCC’s guidance that would allow national banks to hold reserves for stablecoin issuers, as well as provide cryptocurrency custody services for users.

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