Binance News
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At least 15 crypto companies apply for OCC trust licenses to secure Federal Reserve master accounts
According to reports from Wu, at least 15 cryptocurrency and fintech companies are applying for trust licenses from the Office of the Comptroller of the Currency (OCC) in the United States. Some institutions are using this as a strategic path to secure a master account with the Federal Reserve. A Federal Reserve master account would allow direct access to the Federal Reserve payment system, and once obtained, it would enable crypto companies to potentially bypass traditional banks and operate financial infrastructure in a manner similar to federally regulated deposit institutions.
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