The Office of the Comptroller of the Currency (OCC), one of the chief banking regulators in the US, and the Consumer Financial Protection Bureau (CFPB) are expected to align with the crypto industry's policy aims. The new stand-in chief at the OCC, Rodney Hood, has been described as crypto-friendly and has previously stated that cryptocurrency should be a part of the credit union system. The OCC's guidance to banks on crypto business, issued in 2021, may be reevaluated under the new leadership. The FDIC, on the other hand, has initiated a review of communication with banks regarding crypto-related products and services. The Securities and Exchange Commission's crypto accounting policy, which added capital requirements for banks handling crypto, has also been removed. At the CFPB, Trump's acting head, Russ Vought, is attempting to limit the agency's funding and operations, drawing support from figures in the crypto industry who have had consumer complaints against them logged by the agency. Democratic lawmakers have criticized the administration's attack on the CFPB. Representative Maxine Waters has released a bipartisan stablecoin bill, although Republicans have proposed a different approach. Democrats aim to address concerns about giving states supervisory authority over stablecoin issuers in a potential bipartisan agreement.



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