BRIEFLY: Biden settles on Barr to lead bank regulator; OCC issues national charter for digital assets bank

(Jan. 22, 2021) President Biden has reportedly determined that Michael S. Barr – a former assistant Treasury secretary for financial institutions (a position that interfaces with credit unions and banks) – will be the next comptroller of the currency. If confirmed, Barr, 56, would serve a five-year term … In other OCC developments, the agency last week issued a national digital bank charter, one of the last acts of outgoing Acting Comptroller Brian P. Brooks. The national trust bank charter for Anchorage Digital Bank of Sioux Falls, S.D., would allow it to continue the custody services it offered as a state bank primarily to institutional investors that transact in digital assets and cryptocurrencies, including but not limited to certain tokenized securities and cryptocurrencies (including Bitcoin and others).

OCC Conditionally Approves Conversion of Anchorage Digital Bank