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US Regulator Allows Cryptocurrency Banking Services

M. Ali 23 July, 2020 9:11 pm Cryptocurrency, Market Update

The Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, approved that banks could provide custody services for cryptocurrencies, Reuters reported.

Providing custody and safekeeping services for cryptocurrencies is now considered a modern version of banking services.

Such services include safe-deposit boxes to virtual vaults to hold the digital currencies.

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