Per a July 2 announcement, the Workplace of the Comptroller of the Forex (OCC) and the Shopper Monetary Safety Bureau (CFPB) are opening up digital
Per a July 2 announcement, the Workplace of the Comptroller of the Forex (OCC) and the Shopper Monetary Safety Bureau (CFPB) are opening up digital hours for trade gamers seeking to talk about innovation and new applied sciences in banking.
Extra venues for crypto to satisfy with regulators
The brand new conferences will likely be capped at one hour in size and are at present slated for simply two days, July 29-30. These must register by July 17.
Relying on the success of those conferences, they could turn into a extra common characteristic. The Securities and Trade Fee’s FinHub not too long ago introduced digital meetups to construct on an extended custom of peer-to-peer engagement.
The Commodity Futures Buying and selling Fee equally held one-off conferences in February, earlier than COVID-19 lockdowns took maintain across the U.S.
Rising engagement with fintech at OCC underneath Brooks
At the moment’s announcement follows a bunch of pro-fintech and crypto strikes from the OCC since Brian Brooks, previously of Coinbase’s authorized workforce, turned appearing head of the workplace.
Brooks is notable for his curiosity in onboarding crypto capabilities onto the standard banking system.
Earlier this week, the OCC launched its semi-annual threat perspective — a recurring report highlighting the state of the banking trade. This version made particular point out of threats amid the COVID-19 pandemic and dangers of working remotely, warning in opposition to “heightened cyber safety dangers, and potential fraud associated to stimulus packages.”
“It is a development that we noticed highlighted previous to COVID-19 in January of this 12 months,” a member of the OCC’s workers instructed Cointelegraph. “Clearly covid-19 has opened up an entire new avenue for [bad actors].”