It was repealed in 1999. Glass-Steagall, a federal law created in 1933 that separated investment banking from commercial banking, was repealed in 1999. In the cryptocurrency arena, Hsu stated, "the rapid expansion in users and overall market value has only been equaled by the rapid expansion in fraud and consumer complaints." Moving quickly and breaking things is a well-known proverb in the technology industry. The fact that in the financial services industry, those "things" are people and their money must always be remembered is critical.
Senate Republicans compelled OCC candidate Saul Omarova to send in her college thesis on Marxism in October after she failed to comply with their demands. According to reports, the OCC will make suggestions to banks on how to handle bitcoin holdings.
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