🚨CRYPTO AND THE AMERICAN BANKS
US banks are getting into crypto. The news broke yesterday and it came as a bit of a bombshell in the cryptosphere: US banks are now authorized to manage their clients' cryptocurrencies and outsource certain digital asset-related activities to third parties.
The Office of the Comptroller of the Currency (OCC) confirmed this information, specifying that financial institutions can also outsource activities such as custody or order execution while complying with current legislation.
Key points from this article: US banks have been authorized by the OCC to manage their clients' cryptocurrencies, generating a shock in the cryptosphere.
The OCC's announcement was hailed by the crypto industry, seen as a historic turning point in the regulation of digital assets in the United States.