U.S. senators write letter to OCC chief calling for stricter restrictions on banks' interactions with cryptocurrencies

According to The Block, U.S. Senators Elizabeth Warren, Dick Durbin, Sheldon Whitehouse, and Bernie Sanders jointly wrote to Michael Hsu, Director of the U.S. Office of the Comptroller of the Currency (OCC), requesting that the Biden administration cancel a series of interpretive guidance received from the previous administration. , calling for stricter restrictions on how banks interact with cryptocurrencies. Foresight News noted that former U.S. President Trump appointed Brian Brooks to lead the OCC. During his tenure, the OCC issued a series of explanations, "basically giving banks unlimited opportunities to engage in certain encryption activities, and there are still problems ".