Cryptocurrencies
Crypto Fans See Regulatory Update as a Step Closer to Mainstream
- Office of the Comptroller of the Currency commented Monday
- Move may encourage more bank development of stablecoins
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The cryptocurrency sector may be inching closer to mainstream finance after fresh guidance from a U.S. banking regulator on using certain types of less volatile digital coins for payments.
Federally chartered banks can use so-called stablecoins for payment activities and participate in the underlying blockchain that verifies and records transactions, according to a statement from the Office of the Comptroller of the Currency on Monday. Analysts said the move may encourage banks to develop stablecoins for faster payments.