Quote:
Originally Posted by ChiefRocka
Big news folks
Today the OCC published Interpretive Letter 1174, which explains banks may use new technologies, including independent node verification networks (INVNs) and stablecoins, to perform bank-permissible functions, such as payment activities. Said simply, a bank may use stablecoins (cryptocurrencies designed to minimize the price volatility) to facilitate payment transactions for customers.
In doing so, a bank may issue stablecoins, exchange stablecoins for fiat currency, as well as validate, store, and record payments transactions by serving as a node on a blockchain (INVN).
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How is that good for crypto? Wouldn't that be a direct competitor?
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"although there is evidence of potential violations regarding the handling of classified information, no reasonable prosecutor would bring such a case" - James Comey
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