The United States Senator Elizabeth Warren is continuing her anti-crypto campaign, this time proposing legislation that would effectively shut down bank-provided cryptocurrency services, according to a Bloomberg report on Thursday.
To keep Wall Street away from the cryptocurrency market, Senator Warren, who is on the Senate Banking Committee, is urging committee members and senators to sign a letter to the Office of the Comptroller of the Currency (OCC) asking for banks to cease providing crypto services such as crypto custody. The banking committee believes that by issuing crypto guidelines, regulators allow Wall Street banks to enter the market and put the banking system at risk.
The letter urges the OCC to collaborate with the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC) to develop an alternative cryptocurrency approach that adequately protects consumers and promotes “safety and soundness of the banking system:”
“We are concerned that the OCC has failed to...
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