OCC’s new policy could be a breath of fresh air for Ripple (XRP)!

Updated

March 10, 2025

Gambar OCC’s new policy could be a breath of fresh air for Ripple (XRP)!

Jakarta, Pintu News – Recently, the United States Office of the Comptroller of the Currency (OCC) issued a policy that allows national banks and federal savings associations to engage in crypto-asset custody activities, certain stablecoin-related activities, as well as participation in independent node verification networks.

This policy is expected to reduce the burden for banks to engage in crypto-related activities and ensure that these bank activities are treated consistently by the OCC, regardless of the underlying technology.

New Policies and Their Impact on Banks

According to Rodney E. Hood, Acting Comptroller of the Currency, banks are expected to maintain robust risk management controls to support new bank activities just as they do for traditional banks.

It also revoked the OCC’s participation in the joint statement on cryptoasset risks as well as the joint statement on liquidity risks for bank organizations that largely led to cryptoasset vulnerabilities. The move comes in the wake of the FTX exchange crash in 2023, which marked a tipping point in crypto regulation.

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Reaction from the American Bankers Association

Rob Nichols, President and CEO of the American Bankers Association (ABA), praised this decision as a major step in engaging banks in the rapidly growing crypto market. The ABA has long urged that this misguided policy, which created atypical standards for many product and technology implementations, be repealed.

Banks have a critical role to play in the digital asset ecosystem, which has the potential to be a catalyst for change in traditional financial markets, and today’s action by the OCC is an important step towards empowering that success.

Impact on Ripple (XRP) and the Crypto Market

This latest decision is expected to allow banks to actively participate in blockchain networks such as XRP Ledger, which is a highly scalable and efficient blockchain created for institutional-scale financial transactions.

A successful adoption is also expected to have a major impact on the price of Ripple , which has been predicted to see a rise this cycle. Moreover, this policy might provide more legal certainty and confidence for investors and users in the crypto ecosystem.

Conclusion

With this new policy, the OCC not only reduces the regulatory burden for banks, but also opens up new opportunities in the adoption of blockchain and crypto technologies. This move is expected to bring more innovation and integration between the traditional financial sector and digital asset markets, providing a positive boost to the overall digital economy.

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