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Office of the Comptroller of the Currency (OCC)
What Is the Office of the Comptroller of the Currency (OCC)?
The Office of the Comptroller (OCC) is a U.S. Treasury branch created in 1863 to supervise and regulate all national banks, federal savings associations, federal branches and foreign bank agencies in the United States.
The OCC gets its mandate from the U.S.’ Bank Secrecy Act (BSA), occasionally releases bulletins and advisories to make sure that BSA’s anti-money laundering (AML) requirements are uniformly applied.
The OCC under the leadership of ex-Coinbase executive Brian Brooks made waves in 2020 with several progressive digital asset reforms and initiatives to clarify its crypto policy and help U.S. banks offers custodial services to its customers.
In May 2021, the OCC’s new Acting Comptroller Michael Hsu threatened to review Brooks’ reforms in what appears to be a more negative assessment of cryptocurrencies.
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Bottleneck
A bottleneck refers to a point where capacity becomes restricted, creating congestion and slowing the overall performance. |
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zkOracle
zkOracles utilize Zero Knowledge Proofs (ZKPs) as a trustless medium through which data can pass freely whilst retaining a robust standard of security, privacy and cost-efficiency. |
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Abstraction Scalability
Abstraction scalability is the expansion in the overall ability of a system that allows programming components to be used as building blocks in a new development environment. |
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Solana Virtual Machine (SVM)
The Solana Virtual Machine, or SVM, is the system powering Solana's ability to handle thousands of transactions per second. |
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Simple Ledger Protocol (SLP)
Simple Ledger Protocol (SLP) is a token system that works on top of Bitcoin Cash. It allows users to create their own tokens to represent anything they can dream of. |