The U.S. administration under Trump allows U.S. banks to act as intermediaries in cryptocurrencies.
The United States has taken a significant step toward integrating cryptocurrencies with the traditional financial system. Recently, the Office of the Comptroller of the Currency (OCC) announced that U.S. banks are allowed to act as intermediaries in cryptocurrency transactions. This means that banks can now assist buyers and sellers in trading digital currencies.
This step can have a significant impact on both banks and the cryptocurrency market.
Banks have strong compliance systems and are trusted by customers more than most platforms dedicated to cryptocurrencies alone.
The traditional financial system is becoming more exposed to risks.
The 'Risk-Free Broker' model
This type of activity is known as trading under the 'Risk-Free Broker' system. It allows the bank to buy cryptocurrency from one client and sell it directly to another client without holding it for long, thereby reducing the bank's exposure to market volatility. Under the new rules, banks do not need special approvals for each transaction, but they must follow strict regulatory guidelines. This step could have a significant impact on banks and the cryptocurrency market, making currency trading easier and safer for consumers.
The benefits for the cryptocurrency market#USJobsData
For the cryptocurrency industry, this development is very important. Banks have strong compliance systems and customer trust in them is higher than what crypto platforms alone provide. Their participation may increase market liquidity, help stabilize prices, and attract more institutional investors. However, there are risks. Although banks do not hold cryptocurrencies for long periods, dealing with them remains fraught with volatility. Any mistakes or breaches can cause problems for banks and the financial system as a whole.
