Coinbase, Paxos, MetaBank and PayPal all claim the primary purpose exception, which allows companies to place deposits at banks without limits applied to brokered deposits.
The revised policy increased maximum penalties for the largest banks, outlined stronger accountability measures and expanded the OCC's authority to restrict business activities.
The U.S. Department of Treasury, in coordination with various federal entities, released three anticipated reports on digital assets: (i) a U.S. central bank digital currency (CBDC).