PANews reported on December 9th that the U.S. Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188, confirming that national banks can act as "risk-neutral" agents, entering into cryptocurrency transactions with one client and simultaneously engaging in an equal-amount reverse transaction with another client. The bank does not hold any cryptocurrency inventory, and its function is equivalent to that of an agent broker. Such activities must be conducted in a safe and sound manner and comply with applicable laws.PANews reported on December 9th that the U.S. Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188, confirming that national banks can act as "risk-neutral" agents, entering into cryptocurrency transactions with one client and simultaneously engaging in an equal-amount reverse transaction with another client. The bank does not hold any cryptocurrency inventory, and its function is equivalent to that of an agent broker. Such activities must be conducted in a safe and sound manner and comply with applicable laws.
The OCC has confirmed that national banks in the United States can conduct "risk-free principal" cryptocurrency trading.
PANews reported on December 9th that the U.S. Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188, confirming that national banks can act as "risk-neutral" agents, entering into cryptocurrency transactions with one client and simultaneously engaging in an equal-amount reverse transaction with another client. The bank does not hold any cryptocurrency inventory, and its function is equivalent to that of an agent broker. Such activities must be conducted in a safe and sound manner and comply with applicable laws.
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