Brian Brooks, Acting Comptroller of the Currency in the US, said during an interview with CNBC's Squawk Box that the authorities will not ban bitcoin (EXANTE: Bitcoin) in the United States. Brooks declined to answer strictly whether the US Department of the Treasury is going to tighten regulation regarding self-hosted crypto wallets or not.
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However, OCC's head emphasized that nobody is interested in banning technologies related to cryptocurrency transmission.
"Nobody is going to ban bitcoin. Nobody is going to ban some of these transmission technologies. We are very focused on getting this right. We are very focused on not killing this," Brooks said.
Brooks also said that the cryptocurrency community will likely see "a lot of good news for crypto" before the end of the Trump's administration term. While bitcoin's sharp rise in 2017 may have been a bubble, but with more clarity in the regulatory field, financial institutions classify the cryptocurrency as a real thing, he added.
Earlier in November 2020, Coinbase's CEO Brian Armstrong wrote on Twitter that the US Treasury is planning to impose new regulations on self-hosted digital wallets that would have "unintended side effects," for the crypto market.
According to Armstrong, the Trump administration plans to require companies like Coinbase to verify the proof of a digital wallet before a withdrawal could be sent.
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