Archive: October 26, 2017

1
A U.S. BitLicense? OCC Acting Comptroller Sounds Open to It
2
Islamic Development Bank blockchain project

A U.S. BitLicense? OCC Acting Comptroller Sounds Open to It

By Eric A. Love and Hilda Li

In remarks delivered during a recent FinTech conference at the Federal Reserve Bank of Philadelphia, U.S. Office of the Comptroller of the Currency (OCC) Acting Comptroller Keith Noreika signaled that he is open to cryptocurrency companies applying for an OCC-issued FinTech charter.  According to the Acting Comptroller, part of the OCC’s role is to determine whether issuance of such a charter to cryptocurrency companies is consistent with the OCC’s “statutory obligations.”  He cautioned that, “just because you get in the door, doesn’t mean you get out the door on the other side with a charter.”  Video of the Acting Comptroller’s full remarks can be viewed here.

Read More

Islamic Development Bank blockchain project

By Jonathan Lawrence

The Islamic Research and Training Institute, the research arm of the Islamic Development Bank Group (IsDB) and SettleMint have agreed to build a blockchain-based financial product that can potentially be used to support development and inclusion in the 57 IsDB member countries. SettleMint, together with their local partner Ateon, based in Saudi Arabia, will be working on using blockchain’s smart contracts to create Sharia-compliant financial products to support development in IsDB member countries.

Read More

Copyright © 2019, K&L Gates LLP. All Rights Reserved.