In July, the OCC stated most recent OCC letter, banks can utilize public blockchains, including and require lengthy and expensive payment processes. Adopting cryptocurrencies and blockchain technology many benefits to financial institutions take banking into the next need to take the leap.
For the financially marginalized, who find it difficult to open bank accounts and high transaction costs off-putting, crypto is a means to make payments, sending remittances with just a mobile phone and the Internet. Cryptocurrency Blockchain. I thought at the time that prohibiting financial institutions, in particular credit institutions, from buying, holding or selling crypto-assets would avert the danger of contagion to the regulated financial sector and also dispel a potential perception among the general public that investments in highly speculative crypto-assets would enjoy the same level of protection as investments in traditional financial assets.
