The U.S. Office of the Comptroller of the Currency (OCC) has officially permitted national banks to participate in cryptocurrency-related activities, including custody services, stablecoin operations, and involvement with blockchain networks.
In a significant regulatory change, the OCC is abandoning its former requirement that banks must obtain prior approval before engaging in crypto activities.
Now, banks simply need to ensure they have robust controls in place, eliminating the need for a formal permission process.
Source: Reuters
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