Democratic senators reject President Biden’s OCC Omarova nomination
Democrats and members of the Senate Banking Committee are opposed to Saule Omarova’s nomination for Comptroller of the Currency. President Joe Biden’s candidate for Comptroller of the Currency, Saule Omarova , is said to have been rejected by a group of five Democratic senators (OCC). Three members of the Senate Banking Committee — Senators Jon […]
Acting OCC head cautions that ‘fools gold’ in DeFi reminds him of lead-up to Great Financial Crisis
Acting OCC Director Michael Hsu warned that some crypto and DeFi financial instruments were reminiscent of those that triggered the 2008 Global Financial Crisis (GFC). However, despite the fact that cryptocurrency has mostly avoided the ravages of hacking, scams, and collapses in the past, acting OCC chief Michael Hsu warns that the risks may be […]
Biden’s administration reportedly aims to nominate anti-crypto and anti-big bank law professor to run the OCC
Omarova has indicated that she hopes to “end banking as we know it,” but she fears that huge financial institutions can misuse the cryptocurrency market because it is not within the jurisdiction of regulators. As reported by the New York Times, the Biden administration intends to nominate Kazakhstani-American attorney, academic, and former policy advisor Saule […]
New OCC head demands audit of cryptocurrency rules
Pierre Dadd joins Terra Virtua as market director after over 20 years of involvement with promoting and brand improvement for different entertainment organizations. The United States’ banking regulator, the Office of the Comptroller of the Currency, is set to review cryptocurrency-related rulemaking following Brian Brooks’ departure. Michael Hsu, the newly-appointed Acting Comptroller of the Currency, has requested […]