The Office of the Comptroller of the Currency should heed the cryptocurrency industry's opposition to de-banking calls and terminate the reputation risk review
ChainCatcher news, according to The Block, the Office of the Comptroller of the Currency (OCC) has announced that it has stopped conducting reputation risk reviews for national banks and financial institutions. Previously, the cryptocurrency industry had strongly criticized being excluded from the financial system. OCC Acting Comptroller Rodney E. Hood stated that institutional reviews should focus on "appropriate risk management processes" rather than subjective judgments. The OCC will also remove reputation risk content from its manuals and guidelines, but emphasized that this does not affect its fundamental requirements for bank risk management.
Previous news, the Office of the Comptroller of the Currency stated that banks have the right to engage in certain cryptocurrency activities.