US banks receive official approval to facilitate cryptocurrency transactions without holding assets
For the first time in the United States, banks have been officially permitted by the OCC regulator to act as intermediaries in cryptocurrency transactions without needing to hold the assets on their balance sheets. This decision allows Americans to buy cryptocurrency directly through their banks.
Source OCC
This innovation offers financial institutions the opportunity to develop their own crypto services without the extra risks associated with storing digital assets. It marks a significant step toward integrating traditional banking services with cryptocurrency tools.
This initiative is expected to boost the popularity of cryptocurrencies among the general public and increase their usage in everyday financial operations.
