Under Brooks’ leadership, the OCC began allowing banks to provide cryptocurrency custody services and store cryptographic keys in July 2020. And this January, the OCC first permitted banks to use stablecoins for payments.
It’s true that the source codes and technical controls that support and secure cryptocurrencies are highly complex. However, laypeople are more than capable of understanding the basic concepts and becoming informed cryptocurrency users.

— In a 1,500-word memo obtained by The New York Times over the weekend, the company’s top lobbyist, Nick Clegg, sought to rebut Haugen’s allegations ahead of her unveiling in an episode of “60 Minutes” on Sunday night. “Social media has had a big impact on society in recent years, and Facebook is often a place where much of this debate plays out,” he said in the memo, in which he called Haugen’s impending accusations, which included blaming Facebook for January’s insurrection at the Capitol, “misleading.” He wrote that “what evidence there is simply does not support the idea that Facebook, or social media more generally, is the primary cause of polarization.”
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