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Opinion: New Crypto Industry Regulation Rules Will Leave Small Banks Behind


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Caitlin Long, appreciates the rules of the Office of the Comptroller of the United States (OCC). They which allow banks to issue stable “double-edged sword” coins.

Indeed, according to him the new provisions of the OSS will give an advantage to the big banks when they work with digital assets.

Next, the expert suggests that public banks did not need approval from federal regulators to use stablecoins.

Caitlyn Long registered Avanti, a regulated digital currency services bank, in early 2020. At the end of October, Wyoming state authorities granted the startup official financial institution status.

As a reminder, on January 5, the OSS authorized banks to issue stablecoins. Many observers saw this news as a victory for the industry over regulators.

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