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Federally Chartered Banks Can Now Custody Cryptocurrencies, OCC Says
Summary: Federally chartered banks will now be able to custody cryptocurrencies, according to an announcement from the Office of the Comptroller of the Currency (OCC) acquired by Cointelegraph. The OCC's announcement highlighted that banks and financial service providers will need to incorporate new technologies into their systems to continue providing traditional services. The letter goes on ...
Federally chartered banks will now be able to custody cryptocurrencies, according to an announcement from the Office of the Comptroller of the Currency (OCC) acquired by Cointelegraph.
The OCC's announcement highlighted that banks and financial service providers will need to incorporate new technologies into their systems to continue providing traditional services.
The letter goes on to say that banks' custody of crypto assets is dependent upon the body having control over keys linked to the crypto wallets.
By Emily Mason
Tags: Federally Chartered Banks,OCC
Link: Federally Chartered Banks Can Now Custody Cryptocurrencies, OCC Says [Copy]
