US Institutions Will Prepare Cryptocurrency Guidelines for Banks
US institutions will prepare cryptocurrency guidelines for banks. The USA continues to take rapid steps in this regard.
A joint statement came from three US government agencies on how financial institutions, including banks, will integrate with Bitcoin and cryptocurrencies from next year. the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of Currency Control (OCC); He stated that they have seen the possible benefits that Bitcoin can provide to banks, their customers and the financial system, but they will publish a guide to create clarity to ensure customer protection and comply with laws and regulations.
In the aforementioned statement, it was stated that the institutions were in talks with each other to prepare a guide on this subject, and the following statements were included:
“In order to remove the uncertainty, quick inter-institutional meetings were held and officials who are experts in crypto assets and various subjects made analyzes with each other at the first stage.”
It was noted that regulatory agencies exchanged ideas about Bitcoin-focused transactions that banks might be interested in, and the topics cover storage, Bitcoin-guaranteed loans, payments, facilitating customers’ buying and selling transactions, and banks holding Bitcoin on their balance sheets.
It was informed that the institutions have not yet reached a clear decision on these issues and that the negotiations will continue, and that a clear and detailed guide on this subject will be ready next year.