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U.S. Banks Can Hold Reserve Funds For Stablecoin Issuers, U.S. Regulatory Body Says
Summary: The U.S. Office of the Comptroller of the Currency (OCC) has released new guidelines clarifying that national banks can provide services to stablecoin issuers in the United States. A recent statement from the OCC states that the regulator wants federally regulated banks to feel comfortable offering services to stablecoin issuers. An accompanying letter signed by Senior ...
The U.S. Office of the Comptroller of the Currency (OCC) has released new guidelines clarifying that national banks can provide services to stablecoin issuers in the United States.
A recent statement from the OCC states that the regulator wants federally regulated banks to feel comfortable offering services to stablecoin issuers.
An accompanying letter signed by Senior Deputy Comptroller Jonathan Gould notes that while banks should carefully assess the risks that come with banking stablecoin issuers, they should also be open to the possibility due to the popularity of stablecoins.
Stablecoin issuers use banks to hold reserve funds for hosted wallets, unhosted wallets controlled by individuals were not included in Monday's announcement.
By Emily Mason
Tags: OCC,Regulation,Stablecoins
Link: U.S. Banks Can Hold Reserve Funds For Stablecoin Issuers, U.S. Regulatory Body Says [Copy]
