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OCC Greenlights US Banks to Hold and Trade Crypto—Wall Street Finally Catches Up
OCC Greenlights US Banks to Hold and Trade Crypto—Wall Street Finally Catches Up
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Federal regulators just handed traditional banks a backstage pass to the crypto party. The Office of the Comptroller of Currency (OCC) confirmed today that US banks can now custody digital assets—and execute trades for clients. No more watching from the sidelines while fintechs eat their lunch.
The fine print:
Banks still need robust risk frameworks (translation: more compliance paperwork than a Bitcoin whitepaper). But the floodgates are open—expect custody battles to heat up as JPMorgan and Goldman rush to ’protect’ your keys.
The cynical take:
Nothing motivates legacy finance like FOMO—especially when they realize crypto’s 24/7 markets don’t close for banker holidays.
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