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OCC Confirms Bank Authority to Engage in Riskless Principal Crypto-Asset Transactions
The Office of the Comptroller of the Currency (OCC) today confirmed permissible bank activities related to riskless principal transactions in crypto-assets. The OCC published Interpretive Letter 1188 confirming that a national bank may engage in riskless principal crypto-asset transactions as part of the business of banking. Such transactions involve a bank acting as principal in a crypto-asset transaction with one customer while simultaneously entering into an offsetting transaction with another customer. The bank serves as an intermediary and does not hold the crypto-assets in inventory, instead acting in a ... (full story)
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