Brian Brooks, the acting comptroller of the Currency, moves to strengthen federal licensing laws for payment firms in the US.
If licensing at the federal level is successful, cryptocurrency adoption will become more mainstream because crypto remittance companies can operate in different states.
The unclear regulations at the federal and state levels have hindered many crypto businesses from setting up in the US.
Although this is good news for crypto adoption, analysts believe that many states will reject federal licensing due to a current dispute between the comptroller of the Currency and New York Department of Financial Services.
Regardless of the dispute, the OCC said it was ready to accept federal licensing applications from individual payment companies.
Brian Brook's appointment is stirring a positive wave in the crypto space as Celsius CEO, Alex Masinky tweeted that he hopes Brian will foster the growth of crypto in his position.
Source: Cointelegraph
