#TrumpCrypto
The Office of the Comptroller of the Currency in the United States announced that banks will be allowed to act as intermediaries in cryptocurrency transactions, in a new move by President Donald Trump's administration to bridge the gap between the traditional financial sector and digital currency activities.
The office stated in new guidelines that banks can participate in what is known as "risk-free intermediary transactions," which involve crypto assets, without undergoing additional scrutiny from regulators.
In this type of transaction, banks effectively act as intermediaries, purchasing assets from one party and then entering into a deal to sell them directly to another party, without holding these assets in inventory except in rare cases, according to the Office of the Comptroller.
President Trump#TRUMP has taken a welcoming stance towards the cryptocurrency sector, having rewritten some rules and removed regulatory hurdles,
Critics warn that these changes have made the traditional financial sector and the unregulated and volatile world of cryptocurrencies more interconnected, potentially posing systemic risks.
