US Banks Gain Green Light for Crypto Transactions
United States banks have been given the go-ahead to act as intermediaries in cryptocurrency transactions, according to a national banking regulator. The Office of the Comptroller of the Currency (OCC) issued new guidance on Tuesday, signalling a further move to integrate traditional finance with the crypto sector. This decision permits banks to engage in ‘riskless principal’ transactions involving crypto assets without facing regulatory scrutiny.
Under this framework, banks will function as brokers, simultaneously buying crypto assets from one party and selling them to another. The OCC clarified that banks will not hold crypto assets in their own inventory during these transactions, except in unusual situations. This arrangement…
