- OCC said that American banks could hold, exchange or let third parties manage the cryptographic assets of customers.
- However, eligible cryptographic activities must occur in applicable laws.
The American Currency Controller (OCS) said that banks can exchange or hold cryptographic assets like Bitcoin (BTC) On behalf of customers.
According to an interpretation letter Emitted on May 7, the regulator also noted that national banks could allow third parties to manage the above services with the permission of customers.
Oct doubles on crypto
Rodney Hood, the CEO of the OCC, added that banks could offer other services,
“These banks can provide other childcare services, including registry, tax or report holding services for their customers. WADS Banks can use a subgardian to provide the same services. ”
The update comes after the other advice In March, which shed green of banks to manage cryptographic assets and floors.
Interestingly, the March of Mars supervision also canceled a previous restrictive position against the digital asset sector which has been in place since 2021.
Overall, the Shift Pro-Crypto is now an increasing trend in the administration of President Donald Trump.
Reacting to the last update of the OCC, the American Committee of Financial Services, led by the Republicans, applauded this decision. He promised support for the structure invoice of the Crypto market and read,,
“The members are looking forward to continuing the work necessary to develop a digital asset framework that stimulates innovation and is based on the success of the pro-growth agenda and pro-innovation of the administrator of Trump.”
Nevertheless, the occurrence hood reiterated that the regulator expected that all authorized cryptographic activities occur in defined rules. He added,
“I want to be clear that the OUC expects these activities to be carried out safely and solidly and in accordance with the applicable law.”
That said, stable It seems well positioned to benefit from this massive change, and by extension, this could open the way to the disruption of the traditional banking system.
