The United States Office of the Comptroller of La Moneda, which regulates national banks, has continued with the previous resistance to the previous resistance to cryptocurrency in the bank, issuing interpretive letters that say that the institutions can, at the request of their customers, buy and sell cryptographic assets in custody.
The recently explained policy position published by the West on Wednesday also clarified that bankers can outsource cryptography activities to third parties, including custody and executive services. While everything still verifies the boxes of the safety and awareness requirements of the regulator, the West is giving the banks more freedom of cryptography.
This week’s movement follows the reversal of the agency of a long data policy that demanded from bankers to verify with their government supervisors before moving forward with new cryptographic businesses. “These letters indicate a change in the Western approach,” Katherine Kirkpatrick Bos, General Starkware Advisor and former Legal Director of CBOE Digital, noted at the Social Network Site X. She said that the agency now seems to be merging cryptography in traditional banking. And the additional guide that the third parties are well “is a blessing for regulated cryptographic native services.”
Read more: Occ says that banks can participate in cryptographic custody and certain stablecoin activities
