US OCC Commissioner: There is no reason to treat banks and crypto institutions differently.

According to Odaily Planet Daily, Jonathan Gould, Comptroller of the Currency (OCC), stated that crypto companies applying for federal banking licenses should be treated "equally" as traditional institutions, and there is no reason for artificial regulatory distinctions. He noted that digital asset custody and secure escrow are not new concepts, and their electronic operation has been "continuing for decades."

Gould emphasized that the banking system has the capability to evolve from the "telegraph era to the blockchain era" and should not be confined to past technological and business frameworks. He revealed that the OCC has received 14 new banking applications this year, including new business entities involving digital assets, which is almost equivalent to the total number of similar applications in the past four years, indicating a significant increase in demand.

Gould believes that allowing federal regulation of entities engaged in crypto and innovative technologies is a necessary path to ensure the financial system continues to evolve in sync with the modern economy. He also addressed concerns from some banks regarding the licensing of crypto companies, stating that the regulatory framework is fully capable of overseeing them. (Cointelegraph)