The OCC has officially allowed banks to engage in cryptocurrency activities, including the custody of crypto-assets and managing stablecoins, as detailed in Interpretive Letter 1183. The guidelines emphasize the importance of applying traditional banking risk management protocols.
Acting Comptroller Rodney E. Hood stated that this change aims to relieve burdens on banks while maintaining effective federal banking regulations. Additionally, the OCC has retracted previous warnings concerning the risks cryptocurrencies posed for banks.
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