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OCC Greenlights Banks to Trade Customer Crypto—Because Your Keys Weren’t Their Problem Anyway
OCC Greenlights Banks to Trade Customer Crypto—Because Your Keys Weren’t Their Problem Anyway
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US banks just got a backstage pass to your crypto portfolio. The Office of the Comptroller of the Currency (OCC) quietly confirmed that federally chartered banks can now buy and sell digital assets held in custody for clients—no permission slips needed.
Wall Street’s new toy: Your Bitcoin stash. The ruling effectively turns banks into crypto market makers, blurring lines between custodians and traders. ‘Secure storage’ now comes with a side of proprietary trading.
Bonus jab: Finally, banks found an asset class they can’t over-leverage into systemic risk. Oh wait—give them time.
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