US central banking regulator OCC, Federal banks gave the authority to use crypto currency, stabilcoin transactions and use Blockchain technology. With the Interpretive Letter 1183 published on March 7, the regulations to expand the roles of banks in payment systems were clarified. The new rules paved the way for financial institutions to undertake verification nodes in the decentralized finance (defi) protocols, while stretching license requirements. The OCC’s decision aims to build a bridge between traditional finance and digital economy.
Crypto Money and Banking Regulations in Defi
The rules announced by the OCC allow federal banks to hide crypto money on behalf of their customers and carry out certain stabilcoin transactions. The regulatory institution facilitated the preliminary approval processes required for banks to operate in these areas. For example, technical tasks such as node verification in some defi projects will no longer require additional license.
The decision aims to increase the security of Blockchain -based payment systems and to institutionalize digital asset management. OCC emphasized that banks can adopt these technologies and offer innovative solutions in financial services. The regulations, global scale competition can highlight US banks.
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Technological Integration and Financial Transformation
The OCC’s move is interpreted as a step that will accelerate the integration of banks into the digital asset market. The institution predicts that the transparency and speed provided by the Blockchain infrastructure will contribute to payment systems. Crypto currency storage services of banks can create new income models while increasing customer portfolio diversity.
The financial sector expects technology investments to increase with these regulations. Experts, stabilcoins in payments in payments can reduce the costs of global money transfer, he says. However, there is a warning that banks should be careful about risk management and regulatory compliance.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
