The US banking is authorized to guard cryptoactive, according to the Occ. The prior supervision of the West will no longer be necessary to operate with cryptocurrencies. The Office of the Comptroller of La Moneda (OC) issued this Friday, March 7, a statement that reaffirms and expands the authority of the US Banks. UU. To participate in activities related to cryptocurrency. According to the Occ, national banks and federal savings associations, “cryptoactive custody, certain activities related to Stablecoins and participation in distributed accounting networks” are allowed. This, provided that they comply with safety regulations and financial stability. The publication also informs the elimination of the «supervisory non -objection» requirement, a barrier that previously forced banks to obtain explicit approval from the West Before entering activities related to cryptocurrencies. In addition, the agency withdrew its support for previous statements that highlighted the risks associated with these activities. In this regard, Rodney Hood (the comptroller in functions) commented that «the West expects banks to apply iron control strategies in supporting novel banking activities, in the same way they do it with the traditional ones.»
Today's action will reduce the barrier of banks to participate in activities related to cryptocurrencies and ensure that these activities of the banks are consistently served by the Occ, regardless of the underlying technology. I will continue working diligently to certify that the regulations are effective and not excessive, while maintaining a strong federal banking system.
Rodney Hood, control of the currency.
This announcement comes at a time of growing interest in cryptocurrencies in the world and, especially, in the United States, after the signature of President Donald Trump of an executive order for The creation of a Bitcoin strategic reserveas reported cryptootics this week. The ratification of this perspective on the part of the West also shows a clear intention to leave behind definitively which was known as Operation Chokepoint 2.0, which consisted of limiting the relationship of traditional banks and financial institutions with Bitcoin and cryptocurrencies. The operation was mainly disclosed through a combination of industry reports, revelations of official documents and the pressure of public figures and media. As banks begin to explore these new opportunities, the announcement of the Occo not only redefines the scope of their operations, but also sends a clear message: cryptocurrencies are no longer a marginal experiment, but an integral part of the financial future. It remains to be seen how institutions will take advantage of this authorization and what impact will have on the global economy in the coming years.