The US Acting Comptroller of the Currency on Crypto Banks
In this episode, they discuss:
● How his background in traditional financial services led him to take a position at Coinbase.
● Whether the role blockchain and crypto will likely play in the financial future is being recognized at the federal level.
● Whether or not banks have always had the authority to custody crypto for their customers.
● How he expects things to unfold in the coming years as banks begin to become more involved in crypto custody.
● His thoughts on Kraken and others launching crypto banks and whether it will lead to the founding of other crypto banks.
● How his office is pushing for a national fintech charter, and how it could affect less crypto-friendly states.
● Whether banks that work with crypto companies supporting unhosted wallets are prohibited from holding stablecoin reserves.
● Whether or not OCC regulations cover DeFi, and the regulatory challenges that open source protocols present.
● Whether he sees a time when governments and regulators participate in the governance of crypto platforms.
● What roles he thinks public and private sectors, as well as commercial banks, should play in the creation of a central bank digital currency.
● What stance the OCC might take around privacy in blockchain transactions.
● How U.S. regulators can offer more clarity to the crypto industry.
● How he thinks about the ongoing COVID-19 pandemic, its effect on the economy, and the government’s response through stimulus will affect the crypto industry.
The interview was published on October 27, 2020.