United States: Authorizes federal banks to hold reserves for stablecoins

Recently the Office of the Comptroller of the Currency (OCC), an agency of the United States Department of the Treasury, indicated through an interpretive letter that national banks can maintain reserves of stablecoins as a service for bank customers.

According to the portal Cointelegraph, the aforementioned guide indicates that for the moment this permission will only apply to stablecoins that are backed in the ratio of 1: 1 with another currency, which excludes the Tokens that are backed by a basket of coins (currency basket)[1].

Similarly, the aforementioned portal indicates that the acting Comptroller of the Currency, Brian Brooks, pointed out that national banks and federal savings associations have an important participation in activities related to the stablecoins involving billions of dollars daily.

[1] Understood as a set of currencies from different countries, which weighted, serve to fix the value of a certain currency

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Carlo Palomino
Bachelor from the National University of San Marcos (UNMSM). With interest in Digital Law and New Technologies. I endorse the phrase: "Knowledge is useful as it is shared." Contact: carlo.palomino19@gmail.com


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