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US Banking Regulator Calls for Expanded Crypto Financial Literacy
The OCC calls for a major boost in financial literacy to navigate the explosive rise of digital assets, urging updated strategies to protect and inform new crypto investors.
OCC Calls for Stronger Financial Literacy on Crypto
The Office of the Comptroller of the Currency (OCC), the federal agency responsible for overseeing national banks and federal savings associations, has taken steps to clarify the regulatory framework around digital assets in the U.S. banking system.
Acting Comptroller Rodney E. Hood, speaking at the Financial Literacy and Education Commission (FLEC) on May 29, 2025, highlighted the increasing importance of cryptocurrency and digital assets in financial services.
“Everyone in the financial ecosystem – including financial educators – should carefully monitor the rapidly changing financial marketplace and update financial education strategies accordingly.
For example, in 2023, almost 5 percent of all households owned or used cryptocurrency, with more than nine in 10 of those holding it as an investment,” Hood said, adding:
“Given the level of interest, expanding financial literacy resources to address digital asset investments may be useful.”
Hood’s comments reflect the OCC’s role in ensuring that banks can engage with digital assets in a regulated and secure manner.
The Acting Comptroller also discussed the need for financial educators to update their strategies to address the growing number of consumers engaging with digital assets — many of whom are first-time investors.
He suggested that financial literacy programs should help these new investors understand the risks and opportunities of digital assets. The OCC has long supported financial education, and Hood emphasized that these efforts should now include resources on emerging financial products like cryptocurrency.
This approach aligns with the OCC’s recent guidance, released in May, which confirmed that national banks and federal savings associations are authorized to provide cryptocurrency-related services, such as custody and execution, as long as proper risk management practices are in place.
“The federal banking system is well positioned to engage in digital asset activities,” the OCC recently said.
The OCC’s position shows a cautious but supportive approach to integrating digital assets into the banking system, while also stressing the importance of consumer education and safety.
@ Newshounds News™
Source: Bitcoin.com
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BRICS: US Risks Losing $7.5 Trillion Worth of Asian Assets
The BRICS alliance and all Asian countries combined have an investment worth $7.5 trillion in US assets, including bonds. For decades, the global financial gameplay was simple and easy to understand. Asia had an effortless strategy: sell goods to the US, and in return, invest the proceeds into American financial assets.
Things are now changing under the Trump administration, after the US President disrupted the smooth flow of global trade.
The tariffs and trade wars have rubbed emerging economies the wrong way, and things could turn worse if BRICS and other Asian countries put their own nations first and stop depending on US assets for financial benefits. The unwinding of the $7.5 trillion has already begun on a small scale, according to some of the world’s biggest money managers, speaking to Bloomberg.
These money managers warned that if the US fails to halt the outflow, the future could be bleak.
BRICS: $7.5 Trillion Asian Assets Sell-Off Could Shake the US Markets
For those unfamiliar with this financial shift, the sell-offs in US assets have already been initiated by BRICS. Since 2024, China alone has dumped $150 billion worth of US Treasuries and bonds, choosing to diversify its reserves.
Not just China—many developing nations have sold US assets and purchased gold to diversify their central banks’ holdings. Hoarding the US dollar is seen as increasingly risky, especially as the debt ceiling has surged past $36 trillion.
“We are in a shifting world order and I do not believe that we will go back to the state of things as we had before,” said Virginie Maisonneuve, Chief Investment Officer at Allianz Global Investors.
“It is an evolution from the World War Two order and is partially triggered by China rivaling the US in economic and technology terms,” she added.
If BRICS and Asian countries pull the plug on their $7.5 trillion investments in Treasuries and bonds, the US financial markets could be severely shaken.
@ Newshounds News™
Source: Watcher.Guru
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