U.S. Senate Banking Committee Requests Clarity on Cryptocurrencies

first_img The Best Markets For Residential Property Investors 2 days ago cryptocurrency 2020-09-02 Christina Hughes Babb in Daily Dose, Featured, News Home / Daily Dose / U.S. Senate Banking Committee Requests Clarity on Cryptocurrencies Sign up for DS News Daily U.S. Senate Banking Committee Requests Clarity on Cryptocurrencies This week, U.S. Sen. Mike Crapo (R-Idaho), who heads the Senate Committee on Banking, Housing and Urban Affairs, asked the Office of the Comptroller of the Currency (OCC) to fill his committee in on its Advanced Notice of Proposed Rulemaking for cryptocurrency services.The use of cryptocurrency and blockchain technology has been becoming more relevant to the increasingly digitized mortgage and housing industry, according to reports from financial experts such as PwC Financial Services. The aforementioned OCC notice stated that “the first cryptocurrency was created in 2009; there are now over 1,000 rival cryptocurrencies, andapproximately 8% of Americans own cryptocurrency.””Over the past two decades, technological advances have transformed the financial industry, including the channels through which products and services are delivered and the nature of the products and services themselves,” according to the OCC.Now that the OCC has sought input on the digital activities of banks and federal savings associations (comments were due by August 3, according to the notice),  Chairman Crapo’s office stated, his letter requests an update from the OCC on its findings as well as information regarding next steps it intends to take with this technology.The letter, addressed to Acting Comptroller Brian Brooks, reads as follows:”The Senate Banking Committee has held hearings on cryptocurrencies and digitalization in thepayments system, including the impact of distributed ledger technology, blockchain andstablecoins. The Office of the Comptroller of the Currency (OCC) has taken the lead in seekinginput on the digital activities of banks and federal savings associations by issuing a June 4Advanced Notice of Proposed Rulemaking (ANPR) on a variety of areas important to financialtechnology (fintech) and digital currency issuers.Including:What activities related to cryptocurrencies or cryptoassets are financial services companies or bank customers engaged in and what are the barriers or obstacles to further adoption of crypto-related activities in the banking industry;How is distributed ledger technology used or potentially used in activities related to banking;What new payments technologies and processes should the OCC be aware of and what are the potential implications of these technologies and processes for the banking industry; andWhat new or innovative tools do financial services companies use to comply with regulations and supervisory expectations (i.e., “regtech”)?Please provide the committee with an update on its findings and the next steps the OCC intends to take with this technology. Crapo goes on to say, “The cryptocurrency ecosystem is as diverse in its products and functions as the rest of financial services.  These and similar innovations are inevitable, beneficial and the U.S. should lead in their development.”The OCC recently published a letter that clarifies national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers, he noted, adding that “it would be prudent to provide similar clarity for payments.  The U.S. should develop clear rules of the road that protect businesses and consumers without stifling future innovation.” Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: cryptocurrency Share Savecenter_img Previous: The Housing Industry’s Mixed Reactions to New Eviction Moratorium   Next: Padgett Law Group Offers ‘Post COVID Reality’ Web Summit The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago September 2, 2020 1,348 Views Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Related Articles About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Teddy Hall condoms vandalised

first_imgCommunal condoms have been found vandalised in St. Edmund Hall.The condoms, which were kept in the JCR Welfare room for members of the college, were found to have holes in them, which appeared to have been made with a sharp object.John Pierce, a student at Teddy Hall, claimed to have discovered the vandalism when using the condoms to make jelly ice cubes. He commented, “I went to check on them and every single one of them had a sort of spurt out of the top.”Eloise Stonborough, Teddy Hall’s JCR Welfare Officer, expressed anger at the actions.“I am furious about this, and quite upset that there are individuals in college who, for whatever reason, have decided to put their fellow students in danger.”She further commented, “I am really sorry for the extra worry that this idiot’s actions may have caused.”Dani Quinn, OUSU VP for Welfare, also condemned the action. “I feel concerned for the students who might have been affected in a bad way… I don’t understand why someone would do it, and I think it’s a cruel malicious thing to do.”Quinn advised students who were worried about STIs or pregnancy to use the available Sexual Health Services in Oxford.She recommended the GUM Clinic in Headington and the Alec Turnbull Family Planning Clinic in Cowley as places where, “students are treated really respectfully and you can expect excellent and non-judgemental service.” Quinn also stated that she felt Colleges should support Common Rooms in purchasing discrete ways of distributing condoms, such as dispensers, as they could not “reasonably afford to buy them themselves.”This is not the first time that communal condoms have been vandalised. Similar actions occurred in Wadham in recent years. Condoms kept in a bowl in the Women’s Room were sabotaged, leading to the use of dispensing machines.Stonborough sent an email to all members of Teddy Hall JCR which stated, “I don’t know who did this horrible thing… but I hope you are all aware that this is incredibly anti-social and despicable behaviour.”The email continued, “Teddy Hall, and the University at large, not to mention the country that we live in, promotes using condoms… I hope whoever did this realises that their actions are not going to stop people having sex, but rather are going to put people who are attempting to be responsible about their bodies at unnecessary (and possibly great) risk.”Other JCRs were also warned to be vigilant against such actions by students. Students are advised to take the time and care to check their condoms. Most colleges provide free contraception, and colleges affiiated with OUSU can buy supplies directly from then at discount.last_img read more