Let’s dive into everything that happened in crypto on Monday because some of these updates could actually shift the game for the entire industry.
OCC Chief says Crypto Firms Deserve Equal Treatment as banks
Jonathan Gould, the man currently running the Office of the Comptroller of the Currency, just told a blockchain conference that there’s zero reason to treat crypto companies differently when they apply for a federal bank charter.
“Custody and safekeeping have been electronic for decades,” Gould said
“There is simply no justification for considering digital assets differently.”
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He even pushed regulators not to trap banks (or future crypto banks) in “technologies or businesses of the past.”
That’s huge. The OCC used to view crypto as a walking risk alert. Now the tone has flipped. Only Anchorage Digital (since 2021) and the freshly approved Erebor hold these rare national trust charters, but Gould’s words signal the door might finally be cracking open wider.
South Korea About to Hit Exchanges with Bank-Level “No-Fault” Liability
Meanwhile, after the recent Upbit security scare, South Korea isn’t playing around.
The Financial Services Commission is drafting rules that would force crypto exchanges to repay users for losses caused by hacks or system failures, even if the exchange did absolutely nothing wrong.
Right now only traditional banks and e-payment companies carry that “no-fault” burden under the Electronic Financial Transactions Act. If this passes, Korean exchanges will suddenly have the same skin in the game as the biggest banks.
Now that’s another major thing that happened in crypto yesterday with global ripple effects.
Another thing that happened: analyst finally puts the tired tulip argument to bed
How many times have you heard “Bitcoin = Dutch tulips” from the same critics since 2011? Eric Balchunas, senior ETF analyst at Bloomberg, finally called timeout over the weekend.
Bitcoin has already crashed 80%+ six or seven separate times in 17 years and keeps coming back stronger, hitting fresh all-time highs every cycle. Tulips? They had one manic run in 1637… then vanished forever.
“I personally would not compare Bitcoin to tulips, no matter how bad the sell-off,” Balchunas posted.
When even mainstream finance voices stop recycling the 400-year-old bubble analogy, you know something real happened in crypto sentiment this cycle.
Yesterday wasn’t just another quiet Monday; it was the day regulators started talking like crypto is here to stay, investor protection got a massive upgrade in Asia, and one of the oldest FUD narratives finally got retired. And those are the big stories from what happened in crypto yesterday.
Stay locked into Coin Medium for all the latest updates and more of what happened in crypto.
