In January 2017, the US Office of the Comptroller of the Currency (OCC), established a new Office of Innovation (OI). Its remit is to improve the OCC\'s ability to respond to any financial innovation that could affect the country’s federal banking system, such as blockchain-based payments systems and cryptocurrencies. The OCC is presently responsible for chartering, regulating and supervising all the national banks in America and the new OI will improve its focus on financial innovation.

The OI sees financial services innovation as a critical factor in meeting the changing needs of America\'s businesses and consumers. With the explosion of interest in cryptocurrencies and blockchain in mind, they are working particularly towards promoting responsible innovation within the federal banking system. Acting as a central point of contact for the OCC, the OI will examine innovative financial matters, especially fintech, andrespond as a clearinghouse for the OCC.

In 2018, the OCC is looking to developing a program for its participation in any bank pilot schemes that plan to introduce new processes, products, services related to cryptocurrency technology. This is a sandbox-type strategy promoted by the OI which will hopefully enable them to foster and promote responsible innovation by banks under OCC supervision, and give them feedback early on in developmental processes. Information acquired may go towards forming future policies and preparation to supervise newly implemented systems.