Crypto News

Interpretive Letter The Office of the Comptroller of the Currency (OCC) has recently issued an interpretive letter that has sent shockwaves through the banking and cryptocurrency industries. In the letter, the OCC states that national banks and federal savings associations no longer need to seek approval or control before engaging in cryptocurrency activities. What does this mean for banks? This is a major development for banks, as it gives them the green light to offer cryptocurrency custody services, manage cryptocurrency trading for customers, and even participate in stablecoin activities. This move is seen as a step towards mainstream adoption of cryptocurrencies, as banks are now able to offer these services to their customers without any regulatory hurdles. The impact on the crypto market The news of the OCC's interpretive letter has had a significant impact on the cryptocurrency market. As the market continues to mature, the invo...

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...