Leading US banking regulator reports that national banks may provide custody services for cryptos

According to a recent article by Reuters, U.S. banks might be giving cryptos a regulatory green light.
The market hasn’t reacted yet to the news.

Lorenzo Stroe Independent Analyst

On Wednesday 22, Brian Brooks at Office of the Comptroller of the Currency stated that ‘we must ensure banks can meet the financial services needs of their customers today’. This could be massive for the entire cryptocurrency market as banks have always been the enemy.

In Brook’s opinion letter, the OCC said protecting access to cryptocurrencies falls within "longstanding authorities to engage in safekeeping and custody activities" for banks. The news has already been reported by major media outlets including Nasdaq, Nytimes and Yahoo Finance.

Bitcoin hasn’t reacted just yet but it’s expected to see at least a minor price pump within the next few hours.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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