US OCC Refuses to Slow Down After Bank Lobby Group Requests Process Suspension, Continues Collaboration with Circle and Kraken
Months after a bank lobby group requested a suspension of related processes, the US Office of the Comptroller of the Currency (OCC) has refused to slow down and continues to advance its collaboration with Circle and Kraken.
This move reflects the independence of regulatory agencies in crypto-friendly policies.
Observers like John Arnold have expressed concern about this development.
Source: Public Information
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John Arnold, a well-known trader and commentator, has previously analyzed regulatory dynamics. The bank lobby group (possibly referring to the American Bankers Association) is attempting to influence OCC policy, similar to traditional finance's resistance to crypto penetration. The OCC has previously approved activities for several crypto-related banks.
The OCC's refusal to slow down directly advances business like Circle's stablecoin and Kraken's custody, mobilizing regulatory resources to support innovation. The motivation is to adapt to the mainstreaming of digital assets while providing banks with a compliance pathway to avoid being marginalized.
Similar to the differing positions of the SEC/CFTC on crypto, the US is currently in a transitional phase of regulatory games between traditional banks and crypto integration, with the OCC's independent actions becoming a key breakthrough.
Essentially, this represents a regulatory change: regulatory agencies are breaking through lobbying pressures to reconstruct the interaction rules between banks and crypto. The mechanism is that as the scale of digital assets expands, traditional frameworks cannot block innovation. The OCC is accelerating industry infrastructure integration through case-by-case advancements.
ABAB News · Cognitive Law
- Lobbying brakes, regulatory accelerators; innovation always finds a path.
- The stronger the banks' resistance, the faster the crypto integration.
- Refusing to "stop" is embracing the future.