【Shocking! American banks fully enter the crypto asset custody market! How will the future crypto market transform?】

The Office of the Comptroller of the Currency (OCC) has announced that banks can officially provide crypto asset custody and execution services! This significant news means that banks will participate in the cryptocurrency field within a legal framework, offering customers more professional crypto services.

According to the latest clarification letter issued by the OCC, national banks and federal savings associations can execute custody and trading of cryptocurrencies based on existing laws and risk management requirements. Even more exciting, these banks can outsource relevant services to third parties, as long as the outsourcing parties meet strict risk management standards.

Although this decision expands the scope of services for banks, the OCC has clearly emphasized that all operations must adhere to high standards of security and compliance, ensuring that crypto asset activities are conducted safely and soundly.

This update marks an important step in the integration of banks and the crypto industry. With a surge in demand for digital assets, the role of banks in the crypto market will become increasingly critical, bringing unprecedented market changes in the future!