The Office of the Comptroller of the Currency (OCC) has announced that national banks and federal savings associations can now engage in various cryptocurrency activities without prior approval. The OCC has removed the need for supervisory nonobjection and has emphasized the importance of applying oversight to these services. They have also withdrawn from interagency statements and rescinded a previous interpretive letter, signaling a more flexible approach to crypto banking regulation. Banks engaging in cryptocurrency activities must adhere to risk management practices and comply with laws. This announcement is favorable for the XRP Ledger (XRPL), which is seeing increased accessibility and expansion of its ecosystem. Ripple Labs has secured key listings on platforms like Revolut and Zero Hash, and a new stablecoin pegged to the Brazilian Real has been launched on the XRPL.



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