Home Business Is the blockchain coming to your bank?

Is the blockchain coming to your bank?

The OCC will allow chartered banks to use stable-coins.

On Wednesday night, the collective value of all cryptocurrencies exceeded $1T (with a frickin T). And on Thursday, Bitcoin’s most prominent currency reached $40k – 2x its price since a month ago. while these are great milestones for the industry…

CLICK HERE TO GET THE LUXURY CUSTOMER APP

they may not even be the most important of the week. the office of the currency controller (OCC) -a banking regulatory office within the Treasury Department has issued guidelines saying that banks can approve some technology. specifically, chartered banks can deploy stablecoins, which are more… Stable than other crypts because they are connected to other assets. the OCC has been very advanced in payments… . ..

From a former serial base executive, Brian Brooks took over the office in May 2020. according to Forbes, Brooks has previously / issued a guide that allowed banks to guard cryptocurrencies – created a special letter of payment for fintech companies a DC lawyer said the OCC was also ahead of the internet banking package, and the last Guide (also known as the interpretative letter) It will help make crypto more mainstream.

CLICK HERE TO GET THE LUXURY CUSTOMER APP

what does this really mean? Jeremy Allaire… The CEO of the blockchain payment initiation circle, says the OCC movement is important because / allows banks to treat blockchain as other payment infrastructures (e., SWIFT, ACH)  allows banks to use decentralized and faster settlement technology creates a path for the United States to create their own digital currency (also known as USDC) Furtner,

Forbes notes that there is a great opportunity to improve the speed of cross-border transactions if US banks deploy the blockchain. changes are going too fast for some in November, 6 members of Congress criticized the OCC for moving « unilaterally » in crypto regulation. OCC itself recognizes that banks must expand « compliance programs » to deal with any transaction linked to the blockchain

. Meanwhile, another US office With the Treasury Department, the financial crime suppression Network (FinCEN), released stricter standards on data collection for the digital wall. encryption is moving fast, but there are still some obstacles to clearing up to the next billion (with a frickin T) in market value is created.

Follow Us In Android Application Install  

 

 

LC
The best in celebrity style, the latest fashion news, and trends on and off the ... Image may contain Clothing Apparel Human Person Evening Dress Fashion ... Celebrity style, beauty tips, culture news & more delivered every day to your inbox.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Pamela Anderson Stops Social Media In light of the fact that They Need Command Over Your Mind

Actress Pamela Anderson declared recently that she is quitting social media in light of the fact that she trusts it is an exercise in...

20 Best Places To Travel In 2021: Where To Go Next

Kenya : Why: Kenya is always a classic and its landscapes are the definition of -' wide-open, which will make the country more appealing than ever...

Significant Dog Government Assistance Emergency Cautioning After a Sharp Ascent In Dogs Sold On The Web

The RSPCA has reacted to 5,955 reports about deserted dogs since the beginning of the pandemic. Specialists have cautioned of a "significant dog government assistance...

« PM » Urges Canadians to drop « travel plans » after data uncovers 1M traveled over holidays

TORONTO - Youngsters and affluent, white Canadians were bound to travel for the time being over the holidays regardless of commonplace lockdown measures, as...

Recent Comments