The post Trump’s OCC chief vows to end banking bias against crypto activity appeared on BitcoinEthereumNews.com. Jonathan Gould, head of the OCC, said on Wednesday that the agency plans to shut down what he called a “two-tiered system” where banks are pressured to avoid working with legal crypto businesses. Speaking at a CoinDesk event in Washington, Jonathan said many of these firms are operating well within the law and should not be blocked from basic financial services just because they’re in crypto. “I view a lot of what crypto represents, as well as using the technology and processes underlying it, as being inherent to financial intermediation services,” he said. Jonathan made it clear that the OCC won’t keep letting banks discriminate against crypto activity that’s legal. In his words: “We’re going to take a step back to see if we’re going to work much more closely with those who are interested in doing these activities. And we’re going to chart a path to ensure you can do it in a safe and sound manner. That is our obligation as supervisors and regulators when you’re engaged in legally permissible activities.” OCC pulls plug on debanking after Trump demands crypto access Jonathan’s remarks came just days after the OCC took direct action to stop debanking, the practice of cutting off financial services to people or companies based on political views or industries. In this case, crypto companies were often the target. Critics say some bank examiners pushed lenders to stop doing business with crypto-linked firms. But some consumer groups argue the problem hasn’t been as widespread as it’s made out to be. Still, the OCC made its position clear: if it’s legal, it’s allowed. Jonathan said that if banks want to try something new, like getting involved in crypto, they’ll need the right setup to handle it. “Those firms must ensure sure they have the infrastructure necessary to… The post Trump’s OCC chief vows to end banking bias against crypto activity appeared on BitcoinEthereumNews.com. Jonathan Gould, head of the OCC, said on Wednesday that the agency plans to shut down what he called a “two-tiered system” where banks are pressured to avoid working with legal crypto businesses. Speaking at a CoinDesk event in Washington, Jonathan said many of these firms are operating well within the law and should not be blocked from basic financial services just because they’re in crypto. “I view a lot of what crypto represents, as well as using the technology and processes underlying it, as being inherent to financial intermediation services,” he said. Jonathan made it clear that the OCC won’t keep letting banks discriminate against crypto activity that’s legal. In his words: “We’re going to take a step back to see if we’re going to work much more closely with those who are interested in doing these activities. And we’re going to chart a path to ensure you can do it in a safe and sound manner. That is our obligation as supervisors and regulators when you’re engaged in legally permissible activities.” OCC pulls plug on debanking after Trump demands crypto access Jonathan’s remarks came just days after the OCC took direct action to stop debanking, the practice of cutting off financial services to people or companies based on political views or industries. In this case, crypto companies were often the target. Critics say some bank examiners pushed lenders to stop doing business with crypto-linked firms. But some consumer groups argue the problem hasn’t been as widespread as it’s made out to be. Still, the OCC made its position clear: if it’s legal, it’s allowed. Jonathan said that if banks want to try something new, like getting involved in crypto, they’ll need the right setup to handle it. “Those firms must ensure sure they have the infrastructure necessary to…