"Crypto week" has officially started, and the first shocking news came from the American giants of financial oversight. After the announcement from the U.S. House of Representatives about the "Crypto week" for the week of July 14 to 18, the #US Federal Reserve (#Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) issued a historic joint statement concerning cryptocurrencies that directly affects banks. According to the statement, banks can now offer cryptocurrency custody services, but must comply with strict regulations. 🧾 Summary of the statement: Banks have authority, but not unlimited authority The statement was clearly articulated: 📌 No new regulations were established. 📌 Banks can provide cryptocurrency custody services on the condition of compliance with existing laws and risk management principles. 📌 In particular, the security of cryptographic keys, protection against cyber threats, and the integrity of customer assets will be the main responsibilities of the banks. 🔐 Cryptographic Keys and Responsibility Banks are required to maintain the highest level of private key usage when storing digital assets. ⚠️ They will be directly responsible in the event of key loss, unauthorized access, or cyberattacks. 🛡️ Cybersecurity and the Requirement for Specialized Personnel Storing digital data is not only physical infrastructure but also a critical cyber defense system. Banks are required to pay special attention to the following: ✔️ Development of technological infrastructure ✔️ Development of cybersecurity protocols ✔️ Existing staff specialized in cryptocurrencies ✔️ Strict control over key management and encryption protocols 🏦 Use of sub-custody is free, but risky Banks may transfer cryptocurrency custodianships to external entities (sub-custodians). However: A risk assessment is required for summarizing this information. The parent bank will still be responsible for the activities of sub-custodians. ⚖️ Requirement for Compliance with AML, CFT, and OFAC Regarding companies providing cryptocurrency custody services: Anti-Money Laundering (AML) Combating the Financing of Terrorism (CFT) Office of Foreign Assets Control (OFAC)... those who failed to comply with the regulations faced justice. It was also reported that the contract with the customer should be clear and detailed, and the roles and responsibilities between the user and the bank should be clearly stated. 🔍 Requirement for Internal Audit and External Auditor The last part of the statement dealt with the development of internal audit mechanisms for operations. It was recommended to cooperate with independent auditing institutions when necessary. The aim is to ensure the safe protection of customer assets and prevent possible legal violations. 📊 What the industry says The initial reactions from the crypto industry were relatively positive. This statement is considered a signal that the U.S. has officially begun the process of integrating cryptocurrencies into the financial system. Many experts predict that this move will pave the way for significant institutional investments in cryptocurrency markets and mobilize traditional capital that has been held back by the lack of "trustworthy custody." 🧠 Conclusion: Cryptocurrency is now official "Crypto week" has reached a historic level with a comprehensive announcement from the first major central bank, insurance institution, and regulatory authority. Designating American banks as "crypto custodians" is the strongest indicator of potential status within the digital financial system by 2025. 📈 This move will increase the confidence of crypto investors and attract greater capital into this space. Now cryptocurrencies will be held not only by private exchanges but also by licensed ones. #USCryptoWeek #BTC120kVs125kToday #StrategyBTCPurchase