U.S. banks given regulatory green light to safekeep cryptocurrencies

WASHINGTON (Reuters) - A leading U.S. banking regulator said on Wednesday that national banks may provide custody services for cryptocurrencies. The Office of the Comptroller of the Currency said in a new letter that providing custody and safekeeping services for cryptocurrencies, including holding 'keys' needed to access cryptocurrency holdings, is a modern version of traditional banking activities and should be allowed

Reuters July 23, 2020 00:08:08 IST
U.S. banks given regulatory green light to safekeep cryptocurrencies

US banks given regulatory green light to safekeep cryptocurrencies

WASHINGTON (Reuters) - A leading U.S. banking regulator said on Wednesday that national banks may provide custody services for cryptocurrencies.

The Office of the Comptroller of the Currency said in a new letter that providing custody and safekeeping services for cryptocurrencies, including holding "keys" needed to access cryptocurrency holdings, is a modern version of traditional banking activities and should be allowed.

(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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