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US Treasury to Allow Blockchains, Stablecoins for Bank Payments
Summary: The Office of the Comptroller of the Currency (OCC), a bureau of the US Treasury Department, has stated that banks may use stablecoins and blockchains for payments. In an interpretive letter today, the OCC clarified that, these financial institutions can participate as nodes on a blockchain and store or validate payments. Jeremy Allaire, co-founder and ...
The Office of the Comptroller of the Currency (OCC), a bureau of the US Treasury Department, has stated that banks may use stablecoins and blockchains for payments. In an interpretive letter today, the OCC clarified that, these financial institutions can participate as nodes on a blockchain and store or validate payments. Jeremy Allaire, co-founder and CEO of Circle, which operates the USDC stablecoin, tweeted, "This is a huge win for crypto and stablecoins."
By Amy Liu
Tags: Bank Payments,OCC,Stablecoins,US
Link: US Treasury to Allow Blockchains, Stablecoins for Bank Payments [Copy]
