USAs can guard and negotiate cryptocurrencies on commission of their clients, clarifies the West

The US banking authorities expand freedoms for custody and sale of cryptocurrencies, which further flexible the conditions for the crypto sector at the local level.

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• The bank regulator now allows national entities to offer crypto services at the request of their customers.
• Entities can also subcontract these operations to third parties, under certain conditions.
• The posture turn favors native regulated suppliers of the crypto ecosystem.

The Office of the Comptroller of the Currency (Occ), Entity responsible for supervising national banks in the US, has taken another step in its strategic turn regarding the use of cryptocurrencies within the traditional banking system.

Through new interpretive letters issued this week, the Occ has confirmed that Banks have green light to buy and sell cryptoactives in custody, provided it is at the request of their customers.

As indicated COINDESKthis change of direction marks a turn regarding previous policy, which required banking institutions first with their government supervisors before undertaking activities related to cryptoactive.

An evolution in regulatory position

In March, the Occ He had already reversed a long data policy that restricted the entrance of the banks into the crypto sector. The new position, published today, It clarifies that not only can they participate directly in operations with cryptoactive ones, but also allowed them to outsource these functions to third parties.

This includes custody and execution services, provided that the agreements meet the safety and solidity requirements established by the regulatory entity. In other words, the Occ Now recognize a framework where banks can be associated with native companies of the crypto ecosystem without violating traditional banking standards.

The impact for banking and crypto ecosystem

The measure gives national banks greater operational flexibility against a growing demand by customers interested in digital assets. Until now, many financial entities had been reluctant to explore these opportunities for fear of regulatory repercussions.

However, the new approach to the Occ It could encourage a wave of collaborations between banks and crypto companies, in a regulated environment and with greater legal guarantees. This would not only reinforce the confidence of institutional users, but also facilitate the entry of new actors into the sector.

Let us keep in mind that, this step taken by the Occ It is part of a broader opening pattern towards financial innovation within the American system. While Congress debate more robust legal frames for the ecosystem Blockchain, The action of this bank regulator anticipates a greater institutionalization of cryptocurrency -related services.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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