TechFlow news — In response to earlier reports from sources claiming that "the Federal Reserve and the Office of the Comptroller of the Currency (OCC) are conducting a broad de-banking operation targeting cryptocurrency," stablecoin issuer Paxos has taken to Twitter to clarify: "Paxos has not been asked by the OCC to withdraw its application for a national trust bank charter, nor has it been denied such a license. Paxos continues to engage in constructive discussions with the OCC."
Earlier today, reports citing anonymous sources indicated that the Federal Reserve and the OCC are carrying out a large-scale de-banking initiative against cryptocurrency firms. According to the report, the OCC will soon release a document instructing Paxos, the issuer of the stablecoin BUSD, and other blockchain companies to withdraw their applications for banking licenses.Original link
