OCC’s Green Light for Riskless Crypto Transactions: What It Means
The U.S. Office of the Comptroller of the Currency (OCC) just greenlit a game changing move – allowing national banks to engage in riskless principal crypto transactions. What does this mean exactly? It means they can now act as intermediaries in crypto trades, buying and selling the assets without holding them in their inventory. No more credit and settlement risks. This is a big step in creating a solid operational framework for banks. Plus, it sets a precedent for fintech startups in Asia to align their compliance frameworks with banks.
The OCC’s Interpretive Letter 1188 makes it clear that these transactions are legally allowable under the National Bank Act. They’re treated as the equivalent of brokerage activities in…
