U.S. Regulator Allows Banks to Serve as Crypto Intermediaries
The Office of the Comptroller of the Currency just dropped some big news.
U.S. national banks can now step in as middlemen for cryptocurrency deals.
Basically, banks can handle what they call “riskless principal” transactions. That means they’ll buy crypto from one customer and sell it to another, all in one go, without ever actually holding onto the crypto themselves unless there’s a rare exception.
This is a clear sign that digital assets are getting pulled into the world of mainstream finance.
The OCC’s new rules land at a time when a wave of regulation is already opening the door for banks to get involved in crypto, offering custody services, backing stablecoins, and connecting with blockchain networks.
