Acting U.S. OCC Director asserts federal banking oversight ahead of state regulatory authority

Acting Director of the U.S. Office of the Comptroller of the Currency, Rodney Hood, has reaffirmed his position that federal banking regulation takes precedence over state laws, Eleanor Terrett, host of Crypto in America, reported via X. Terrett said some crypto insiders are concerned that the OCC’s announcement is an attempt to expand federal oversight of cryptocurrencies, weakening state regulatory authority.