USAS of USA

The Director General of La Moneda (OC) was published on March 7th.

According to the OCC, National Banks and Federal Savings Associations are permitted to “cryptoactive custody, certain activities related to stable coins, and participate in distributed accounting networks.” This is subject to compliance with safety regulations and financial stability.

The publication also notifies the previous barriers, elimination of the “non-rejection under supervision” requirement. Banks were forced to obtain explicit approval from the West Before entering any cryptocurrency-related activities. Additionally, the agency has retracted its support for previous statements highlighting the risks associated with these activities.

In this regard, Rodney Hood (Director of Functions) commented, “The West hopes that banks will apply iron management strategies in supporting new banking activities, just like traditional banking activities.”

Today’s actions reduce bank barriers to participating in cryptocurrency-related activities and ensure that these bank activities are consistently provided by the OCC, regardless of the underlying technology. I will continue to work diligently to prove that regulations are effective and not overloaded while maintaining a strong federal banking system..
Rodney Hood, Currency Management.

The announcement comes at a time when global cryptocurrencies, particularly in the United States, are becoming increasingly interested in signing President Donald Trump’s executive order. Establishment of a Bitcoin Strategic ReserveCryptootics reported this week.

Ratification of this Western perspective shows the clear intention to leave the relationship between traditional banks and financial institutions known as the Chokepoint 2.0 operation, which is made up of limiting relationships with Bitcoin and cryptocurrencies.

The operation was revealed primarily by a combination of industry reports, official documents revelation, and public figures and media pressure.

As banks begin to explore these new opportunities, Occo’s announcements not only redefine the scope of their business, but also send a clear message. Cryptocurrency is no longer a limiting experiment, it is an integral part of the future of finance. It is still unclear how the agency will utilize this approval and what impact it will have on the global economy in the coming years.