Bank of America receives OCC approval to conduct cryptocurrency intermediary business
ChainCatcher news, according to Bloomberg Law, under new guidelines from the US Office of the Comptroller of the Currency (OCC), US banks are allowed to provide intermediary services for cryptocurrency transactions, further clarifying the ways in which traditional lending institutions can legally participate in digital asset trading.
The memorandum from the OCC states that banks can act as brokers, purchasing assets from one counterparty and selling those assets to another counterparty. In this process, lending institutions do not hold any crypto assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Netflix (NFLX.US) downgraded twice in one week: HSBC cites YouTube competition, Wells Fargo concerns about engagement and content strategy
HSBC analyst Mohamed Kalouf downgraded the rating of streaming giant Netflix (NFLX.US) from "Buy" to "Hold," and lowered the target price by 21% to $76.
Canadian Dollar seems vulnerable as Iran diplomacy hopes weigh on oil prices
Australian Dollar remains under pressure as PMI slows
Crypto prices
More
