Major Breakthrough! The United States Approves Banks to Handle Cryptocurrency Assets, the Market May Experience Significant Changes!

The Office of the Comptroller of the Currency (OCC) recently approved banks to participate in the custody and trading services of cryptocurrency assets, marking a significant step for traditional financial institutions towards cryptocurrency. According to the newly released explanatory letter, national banks and federal savings associations can buy and sell cryptocurrency assets and provide custody services at the request of customers, and they can even outsource these activities to third parties.

This approval not only provides banks with a new source of revenue but also indicates that institutional investors' demand for the cryptocurrency market is continuously increasing, promoting the mainstreaming of cryptocurrency. With Wall Street banks receiving permission, a significant increase in cash flow for cryptocurrency investment products is expected in the short term.

The OCC's initiative will also bring more transparency to the cryptocurrency asset market, strengthen investor protection, and lay the foundation for the sustainable development of the future financial system.