I recently took a course on banking law and am convinced that big banks are evil. But that's not what's important here. What is important here is that the Office of the Comptroller of the Currency, one of the primary federal regulators of national banks, has recently published an Advance Notice of Proposed Rulemaking in anticipation of its plans to review its regulations on digital banking activities. The ANRP essentially invites input from the public (read: banking and tech firms) on how the OCC should consider current technological advancements in the regulatory framework. Lots of technologies get a "shout out" in the notice--clouding computing, artificial intelligence, biometrics, data analytics and our beloved distributed ledger and technology. Along with the "shout outs," the notice touches on the benefits of all this new technology (new products, more efficiency, further reach) and the inherent challenges (cybersecurity risks, increased competition f
Blogging about the intersection of blockchain and the law