Read on Twitter
#XRP Bullishness will catch up to this amazing news from the OCC today.
#XRPCommunity, for those who haven't read the document, here are some summary points.
1. All BANKS can now hold, trade Cryptos and act as Nodes on any Distributed Ledger.
2. Banks can now issue...1*/
#XRPCommunity, for those who haven't read the document, here are some summary points.
1. All BANKS can now hold, trade Cryptos and act as Nodes on any Distributed Ledger.
2. Banks can now issue...1*/
2. Banks can now issue Stable coins, using these Nodes...
3. Banks should continue applying robust AML/BSA/KYC protocols to comply with regulations even while using DLT technologies
4. Banks can engage as "Payment-related" businesses using Crypto, sorry Paypal, now banks. 2*/
3. Banks should continue applying robust AML/BSA/KYC protocols to comply with regulations even while using DLT technologies
4. Banks can engage as "Payment-related" businesses using Crypto, sorry Paypal, now banks. 2*/
5. The OCC also states that they recognize the importance of "enhancing efficiency, effectiveness and stability of the provision of payments" [Page7] and DLTs are more "resilient" than centralized payment nodes.
6. Throughout document, new terminology is used...3*/
6. Throughout document, new terminology is used...3*/
6. cont. Independent Node Verification Networks (INVNs) is the term they have deemed Cryptos that satisfy the above conditions for banks to use.
Overall, I think this is incredibly good for #XRP. If I were a bank, I'd run a node there, rather than on #BTC
#ETH #LTC etc.
Overall, I think this is incredibly good for #XRP. If I were a bank, I'd run a node there, rather than on #BTC
#ETH #LTC etc.
Link to Original OCC letter: https://www.forbes.com/sites/haileylennon/2021/01/04/occ-regulator-implements-groundbreaking-cryptocurrency-guidance-for-banks-and-the-future-of-payments/?sh=2a0ea69327e9
Other Sources: Forbes, 4th Jan 2021: https://www.forbes.com/sites/haileylennon/2021/01/04/occ-regulator-implements-groundbreaking-cryptocurrency-guidance-for-banks-and-the-future-of-payments/?sh=2a0ea69327e9
Other Sources: Forbes, 4th Jan 2021: https://www.forbes.com/sites/haileylennon/2021/01/04/occ-regulator-implements-groundbreaking-cryptocurrency-guidance-for-banks-and-the-future-of-payments/?sh=2a0ea69327e9
Check out my thread:
@Neloangelo314
@FoJAk3
@Susan_Athey
@HamEggsnSam
@amtvmedia
@BakkupBradley
@PRX0202
@CryptoBull2020
@DiepSanh
@vajolleratzii
@ShakoDoggo
@CredibleCrypto
@ainittomai
A summary of crypto-bullish OCC news. (4th Jan 2021)
@Neloangelo314
@FoJAk3
@Susan_Athey
@HamEggsnSam
@amtvmedia
@BakkupBradley
@PRX0202
@CryptoBull2020
@DiepSanh
@vajolleratzii
@ShakoDoggo
@CredibleCrypto
@ainittomai
A summary of crypto-bullish OCC news. (4th Jan 2021)
