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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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This development remained in the shadow of the Bitcoin rally but is significant: A US institution published an official announcement for cryptocurrencies, and the news was also announced by Michael Saylor!
The Office of the Comptroller of the Currency ( OCC ) has officially approved that banks and federal savings institutions across the country can offer cryptocurrency custody services to their customers.
The statement indicated that banks could participate in various cryptocurrency activities, provided that these services are conducted responsibly and in compliance with legal frameworks.
Banks supervised by OCC will be able to offer custody services that include the secure storage of Bitcoin and other digital assets. Additionally, they will be able to provide extra services such as buying and selling these assets, record keeping, tax, and reporting in accordance with their customers' instructions.
According to the institution, banks can also carry out these services through custodians within the framework of appropriate third-party risk management practices.
While the OCC states that digital finance is no longer a temporary trend, it is a complete transformation; He said that all crypto-asset activities should be carried out safely, soundly, and in accordance with the law.
Michael Saylor, the founder of Strategy, the company that holds the most Bitcoin in the world, shared OCC's statement and commented that "it is now appropriate for banks to adopt Bitcoin."