US banks are crypto. The news fell yesterday and it had the effect of a small bomb in the cryptosphere: American banks are now allowed to manage the cryptocurrencies of their customers And to subcontract certain activities related to digital assets to third parties. It is the Office of the Comptroller of the Currency (OCS) that confirmed this information and which specifies that financial institutions can also outsource activities such as the custody or the execution of orders while respecting the legislation in force.
The key points of this article: American banks were authorized by the OCC to manage the cryptocurrencies of their customers, generating a shock in the cryptosphere.
The OCC was announced by the Crypto sector, perceived as a historic turning point in the regulation of digital assets in the United States.
The West authorizes banks to manage cryptocurrencies of their customers
L’OCC is an independent office in the Department of the American Treasury that regulates and supervises All national banks as well as the federal branches of foreign banks. So it's a institution importante who announced yesterday that banks could now Manage cryptocurrencies from their customers And even subcontract certain activities to third parties.
Rodney Hoodthe acting controller of the OCC, said that the banks and federal savings associations could buy and sell cryptos they hold on behalf of their customers, but also subcontract activities like Guard or execution orders to third -party companies. Finally, theOCC recalled that banks could also provide childcare services for stablecoins And participate in independent nodes verification networks such as distributed registers.
A head of the WCM announces the news on social networks – Source: account x
The Crypto US sector applauds this decision which marks a turning point
This announcement of theOCC was praised by the crypto sector which sees it as a turning in the regulation of digital assets in the United States. Katherine Kirkpatrick Bos, General lawyer at StarkWaresaid that these letters from the West reported a «Change in the approach» of the institution which now seems to want to integrate cryptos into the banking framework. Faryar Shirzad, director of policies at Coinbasehas also applauded the Occyer decision by declaring that Rodney Hood's commitment to «Regulatory clarity» was appreciated. He added that this decision would allow banks to reintegrate the Crypto sector without fear of existential regulatory risks. This announcement of the occurrence is part of a broader context of relaxation between American regulators and the crypto sector. Last April, the federal reserve withdrew from directives which dissuaded the banks from engaging in Cryptos -related activities and to stablecoins. President Donald Trump has also signed a joint resolution of the congress announcing a rule of the Biden administration which would have forced the protocols DEFI to declare transactions to the Internal Revenue Service (US tax). The West's decision to authorize banks to manage their customers' cryptos and to subcontract certain activities marks a turning point in regulating digital assets in the United States. It opens the way to greater integration of cryptos into the traditional financial system and could encourage banks to offer new services to their customers. Good news for the crypto sector which sees in this decision a sign of recognition and legitimization on the part of American regulators.