U.S. Regulator Says Banks Might Run Entirely On Crypto

[grarpamp]

http://www.cryptoanalyst.co/2017/09/30/banks-conduct-business-crypto/
https://www.reddit.com/r/Bitcoin/comments/73e9ce/bitcoin_banks_us_regulator_says_banks_might_soon/
https://twitter.com/DelRayMan/status/913536972605542400

https://www.coindesk.com/us-currency-boss-opens-door-licensed-bitcoin-banks/
http://www.cryptoanalyst.co/2017/09/29/blockchain-in-the-usa-trump-admin-declares-commitment-to-blockchain-government-uses/
https://www.coindesk.com/occ-charter-bitcoin-exchanges-special-national-bank-status/

Keith Noreika—a major U.S. regulator—just laid out his vision for how,
one day, a new class of banks could arise in America that conduct
business in cryptocurrencies like Bitcoin and Ethereum.

Noreika, who currently serves as the acting comptroller of the
currency at the U.S. Treasury Department, is the definition of a
big-wig in the U.S. finance world. He oversees all national banks in
America.

Indeed, then, the fact that someone as prominent as Noreika is
envisioning “Bitcoin Banks” means we might be seeing one of these
banks sooner rather than later in America and beyond.

Giving at talk at the Federal Reserve Bank in Philadelphia on
Thursday, Noreika laid out his vision for giving crypto companies
specialized fintech charters, charters that would make starting a
Bitcoin exchange, for example, extraordinarily easier in the U.S.

“I wouldn’t be adverse to those people coming in and talking to the
[Office of the Comptroller of the Currency] about how a charter could
make sense for them,” Noreika declared. “I don’t think it’s my
position as a government official to ever say ‘no’ to anything, or any
idea, of any American who wants to come in and petition the government
for a benefit from the government.”

Noreika’s public and libertarian approach to crypto will have a major
legitimizing effect on the industry as a whole.

With these fintech charters, crypto companies will be able to start
easier than ever in America. That means established players on Wall
Street will start entering and investing in the crypto space like
never before.

This is an astoundingly bullish development. Noreika’s regulatory
influence has the power to boost Bitcoin beyond $5,000 and Ethereum
beyond $420 in the mid-term, easily.

TLDR: An important regulator at the U.S. Treasury Department says
Bitcoin Banks are almost here, meaning crypto could soon rule the
finance world and explode even further in price.