US Treasury Controller (OCC) The US Treasury Department has announced the conditional approval of a digital currency company to operate as a national bank.
To Report The Block is the second digital currency company to be licensed by the OCC after Anchorage, according to the US banking regulator.
As it turns out, Protogo seeks to provide enterprise customer service in the field of digital assets. The Seattle-based company wants to become a legal Chinese all-block bank. Now, the company can provide services to customers in the field of maintenance, trading, lending and issuance of digital assets by receiving a conditional license to operate in the form of a national bank. These areas will form the four main areas of the bank’s services.
According to the OCC Declaration, Protogo is still in the organizational phase of development and has 18 months to meet the conditions set out in the conditional agreement. After this period, Protogo can start operating as a national bank. It is currently a trust company operating under the laws of Washington state.
The issuance of this conditional agreement is another achievement of Brian Brooks. During Donald Trump’s presidency, Brooks headed the US Office of Foreign Exchange Control and previously served as secretary of the Kevin Bass Legal Council. While in the Office of Foreign Exchange Control, he took important steps in the field of digital currency policy, including the granting of a conditional banking license to a company active in the field of digital currencies, as well as transparency in the possibility of providing digital asset security services by Federal banks noted. Earlier in mid-January (late January), Anchorage was able to obtain OCC conditional approval.
Blake Paulson, a banking appraiser, is now in charge of the US Federal Reserve. He will continue to work until the Senate approves the candidate for the post.