1/ 🚨🚨🚨 @USOCC just released a 3rd interpretive letter re: crypto networks and banks.
Big point: the letter explains that banks have the ability to connect directly with blockchains.
This is yet another notable, pro-crypto move from @USOCC.
occ.gov/news-issuances…
Big point: the letter explains that banks have the ability to connect directly with blockchains.
This is yet another notable, pro-crypto move from @USOCC.
occ.gov/news-issuances…
2/ The letter states that blockchains have the same status as other global financial networks, such as SWIFT, ACH, and FedWire.
This is a giant advance for crypto because it paves the way for these networks to be a formal part of the US financial infrastructure.
This is a giant advance for crypto because it paves the way for these networks to be a formal part of the US financial infrastructure.
3/ Also, the idea of US banks contributing to the operations of the blockchains supporting stablecoins -- Ethereum, Stellar, etc. -- is a major step forward.
end/ Thanks @BrianBrooksOCC for your continued leadership!
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