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IPFS News Link • Currencies

New Crypto Guidance for US Banks Is Watershed Moment for the Industry...

•, Daily Hodl Staff

In a new Real Vision installment, the internet entrepreneur touches upon a number of novel recommendations handed down by US regulatory bodies.

Allaire highlights the Office of the Comptroller's (OCC) recent instruction regarding banks' rights to utilize stablecoins in addition to the explicit guidance published by the President's Working Group on Financial Markets on digital payments and stablecoins.

Allaire says the pairing of the events is deeply significant for the crypto industry and its future in finance.

"I think [the OCC's guidance] is a major watershed event. And I think there are a few pieces to it. I think the first is it follows on the heels of the Presidential Working Group policy recommendations on dollar stablecoins in the United States, which came out just before the holidays. And that really had to do with saying arrangements that are created for the issuance and operation of stablecoins need to meet a set of expectations.