What is Office of the Comptroller of the Currency (OCC)?
Let's find out Office of the Comptroller of the Currency (OCC) meaning, definition in crypto, what is Office of the Comptroller of the Currency (OCC), and all other detailed facts.
The Office of the Comptroller of the Currency (OCC) is a branch of the US Treasury created in 1863 that is responsible for overseeing all federal savings associations, federal branches, national banks, and foreign bank agencies in the United States.
The OCC's mandate is derived from the Bank Secrecy Act (BSA), and it issues bulletins and advisories on a regular basis to ensure that the BSA's anti-money laundering (AML) rules are enforced consistently.
In 2020, the OCC led by ex-Coinbase executive Brian Brooks made a splash with a few progressive digital asset reforms and initiatives. These reforms aimed at clarifying OCC crypto policy and assisting the US banks in providing custodial services to their customers.