Well now, the Office of the Comptroller of the Currency, those folks who mind the nation’s treasure chests, decided to give banks a green light to mess around with that mysterious beast called cryptocurrency. Seems they’ve tossed out Interpretive Letter 1183 like a new gospel, saying banks can hold onto crypto-coins, fiddle with stablecoins, and even join those fancy distributed ledger gatherings—whatever those might be.
Rodney E. Hood, the acting Comptroller, put on his serious hat and assured everyone that these newfangled crypto escapades will be handled with the same prudence as the everyday banking bits—like balancing a checkbook on a rollercoaster. He believes banks will have “strong risk management” in place, which sounds just right until your friendly neighborhood hacker shows up.
He went on about trimming down red tape and keeping the banking system as solid as a rock, while still letting it dance a little on the wild side. Oh, and for good measure, the OCC pulled back from some earlier warnings that warned banks to be wary. Seems like a good time for banks to strap in—crypto’s on the ride, and it’s not slowing down.
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2025-04-23 20:22