Cryptocurrency Intermediation Permission for Banks from the USA: Bank of America is One of the First Institutions Granted Authority
The Office of the Comptroller of the Currency (OCC) announced that American banks can act as intermediaries in cryptocurrency transactions. This new regulation allows banks to buy and sell digital assets on behalf of their clients, while it does not require institutions to hold cryptocurrency assets on their own balance sheets.
The 'zero-risk master trading' model defined by the OCC has a structure similar to how banks currently conduct securities transactions for their clients.
Accordingly, banks are only taking on intermediary roles in order transmission, matching, and settlement processes; they are not taking direct positions in crypto assets. This offers a more controlled process in terms of regulation and risk management for institutions.
According to experts, this step could pave the way for traditional financial institutions to integrate more securely into the digital asset ecosystem. The early approval of Bank of America is seen as an important sign for the expansion of crypto services in the US banking sector.
The new regulation is seen as an important milestone that will allow both individual and institutional investors to access crypto transactions through banks in a more reliable and financially transparent manner.
Stay tuned for new developments.
