The Office of the Comptroller of the Currency (OCC) has published a letter issuing stablecoin regulation guidelines. Guidance is reserved only for stablecoins held in hosted wallets controlled by a trusted third party. In a significant step for crypto adoption, the Office of the Comptroller of the Currency (OCC) has published a letter, approving national banks’ and federal savings associations’ authority to hold “reserves” on behalf of customers who issue stablecoins. Acting Comptroller of the Currency Brian P. Brooks announced: National banks and federal savings associations currently engage in stablecoin-related activities involving billions of dollars each day. This opinion provides greater regulatory certainty for banks within the federal banking system to provide those client services in a safe and sound manner. In the letter, the OCC clarifies several questions regarding the application of stablecoin-related bank activities. The letter notes that the guidance is reserved only for stablecoins held in hosted wallets controlled by a trusted third party. Unhosted wallets that were influenced by the individual user are not included in the guidelines. The letter notes: The due diligence process should facilitate an understanding of the risks of cryptocurrency and include a review for compliance with applicable laws and regulations, including those related to the Bank Secrecy Act (BSA) and anti-money laundering. The reserve account could be structured as either deposit of the stablecoin issuer or as deposits of the individual stablecoin holder. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY defies pullback from six-month low to attack 104.50 amid Tokyo’s second holiday FX Street 2 years The Office of the Comptroller of the Currency (OCC) has published a letter issuing stablecoin regulation guidelines. Guidance is reserved only for stablecoins held in hosted wallets controlled by a trusted third party. In a significant step for crypto adoption, the Office of the Comptroller of the Currency (OCC) has published a letter, approving national banks' and federal savings associations' authority to hold "reserves" on behalf of customers who issue stablecoins. Acting Comptroller of the Currency Brian P. Brooks announced: National banks and federal savings associations currently engage in stablecoin-related activities involving billions of dollars each day. This opinion provides… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.