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Banks Embrace Cryptocurrency as U.S. Introduces New Guidelines
Banks Embrace Cryptocurrency as U.S. Introduces New Guidelines
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The Office of the Comptroller of the Currency (OCC) has issued groundbreaking guidelines permitting national banks to engage in cryptocurrency custody and trading services. This regulatory shift enables banks to execute buy/sell orders for digital assets on behalf of clients and leverage third-party providers for ancillary services.
Risk management frameworks take center stage in the OCC’s directive, mandating robust safeguards for crypto transactions. The guidelines explicitly authorize banks to offer secure storage solutions, tax reporting, and compliance infrastructure for digital assets—effectively bridging traditional finance with crypto markets.
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