Crypto News

OCC Lifts Approval and Control Requirements The Office of the Comptroller of the Currency (OCC) has recently released a new interpretive letter that has sent shockwaves through the cryptocurrency community. Under this new guidance, banks will no longer be required to seek approval or have strict controls in place for engaging in cryptocurrency activities. This is a major step forward for the mainstream adoption of cryptocurrencies and has many experts predicting a bright future for the industry. What This Means for Banks and Cryptocurrency Previously, banks were required to go through a lengthy approval process and implement strict risk management practices before engaging in any cryptocurrency activities. This often deterred banks from getting involved in the industry, despite the potential benefits. Now, with the lifting of these requirements, banks will have greater flexibility to offer services such as custody, trading, and lending of cryptoc...