US regulator allows banks to store customers’ cryptocurrencies

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US financial regulator allowed banks to open accounts for users to store cryptocurrency assets

Cryptocurrency storage

The US regulator allowed banks to store customers’ cryptocurrencies. Photo: crypto-news.net

The Office of the Comptroller of the United States Currency (OCC) has published Letter On the powers of state banks and federal savings associations to provide cryptocurrency custody services to clients.

The regulator notes that banks have long been providing storage services for physical goods and digital assets (since 1998). Therefore, OCC considers cryptographic keys storage and cryptocurrency to be modern forms of traditional banking.


Brian P. Brooks
And about that. Controller of united states currency

The OCC also acknowledges that banks and other service providers have to find new ways to meet customer needs, to digitalize financial markets while continuing to serve as financial intermediaries in the provision of payment, loan and deposit services. needed.

According to Mikhail Chobanan, the founder of the largest Ukrainian crypto-exchange KUNA, the decision bears testimony to the growing demand for such a service. In his Telegram channel He suggested that the Ukrainian regulator may follow this example in the future.


Mikhail Chaubyan
Founder of KUNA

Paypal magazine help

Earlier we wrote that PayPal has confirmed its interest in working with cryptocurrencies.

A letter to the European Commission, the US payment system, states that it “continuously monitors and evaluates global changes in cryptocurrency and blockchain / distributed ledger technology.”

Read:

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