The Office of the Comptroller of the Currency (OCC) released its 2022 Bank Supervision Operating Plan on Friday and for the first time, crypto made the cut.
In its report, the federal banking regulator listed its 11 supervisory priorities for the fiscal year that ends next September, including cybersecurity, climate change and “fintech partnerships for potential cryptocurrency-related activities and other services.”
Many in the crypto community attributed the OCC’s crypto push to former Comptroller Brian Brooks, who left the OCC in January to briefly serve as CEO of Binance.US.
According to the OCC’s latest plan, the regulator will “identify banks that are implementing significant changes in their operations using new technological innovations…[and] evaluate the appropriateness of the governance processes when banks undertake significant changes.”
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.