Boost for Crypto: OCC Ends Reputational Risk Hurdle for Banks

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BitcoinWorld 4d ago

Boost for Crypto: OCC Ends Reputational Risk Hurdle for Banks - BitcoinWorld

Quick Summary:

In a potentially game-changing move for the cryptocurrency industry, the Office of the Comptroller of the Currency (OCC) has decided to remove a significant hurdle for banks wanting to engage with crypto companies.

This decision, first reported by CoinDesk, marks a notable shift in regulatory stance and could pave the way for greater integration of traditional finance with the burgeoning world of cryptocurrency.

Essentially, it was a requirement by the OCC for banks to evaluate and potentially deny services to customers deemed to pose a reputational risk.