🅱️ OCC (Office of the Comptroller of the Currency) officially allowed national banks to buy and sell crypto assets at the request of clients, as well as outsource crypto services.
What banks are now allowed to do:
1️⃣ Storing digital assets
2️⃣ Buying/selling cryptocurrency on behalf of clients
3️⃣ Transfer of crypto activities to third parties (e.g., custodians)
All activities must comply with safety and reliability standards, but prior strict regulations have been relaxed.
Katherine Kirkpatrick (former Cboe Digital):
“This is a green light for the integration of cryptocurrency into traditional banking.”
🟢 The Fed also rescinded the supervisory letter from 2022, easing control over banks’ disclosures about crypto plans.
#CryptoNews #blockchain #Banking #cryptocurrency #Finance #Web3
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