US banking regulator authorizes federal banks to hold reserves for stablecoins

US banking regulator authorizes federal banks to hold reserves for stablecoins

Federal banks in the U.S. see new capacity to provide services to crypto firms, specifically stablecoin operators. Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins.The new guidance reads, "We conclude that a national bank may hold such stablecoin 'reserves' as a service to bank customers."Alongside the announcement, Acting Comptroller of the Currency Brian Brooks noted that stablecoin services are already a part of many banks' activities: “National banks and federal....


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