U.S. Banking Agencies Signal Closer Review of Cryptocurrency Activities
Data Matters
DECEMBER 1, 2021
On November 23, 2021, the Office of the Comptroller of the Currency ( OCC ) published Interpretative Letter No. 1179 1 (the Letter) clarifying the authority of national banks and federal savings associations (Banks) to engage in certain cryptocurrency , distributed ledger, and stablecoin activities. The Letter also addresses the nature of the interaction between state law and the National Bank Act for purposes of OCC oversight of trust and fiduciary activities of national banks, including
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