logo

USA banks are looking into going crypto

rsz saketh garuda c vco cje g unsplash
  • USA banks are looking into going crypto acting comptroller Brian Brooks confirmed.
  • In a recent interview on the Unchained podcast with Laura Shin, Mr. Brooks explains that different USA banks are looking into the different possible paths they could take to adopt the digital coin.
  • The Office of the Comptroller of the Currency (OCC) decision to allow banks to use cryptocurrency has encouraged banks to explore crypto.

USA banks are looking into going crypto

USA banks are looking into going crypto an acting comptroller confirmed. The acting comptroller of currency Brian Brooks said that banks in the US are looking into ways to move forward with cryptocurrency.


In a recent interview on the Unchained podcast with Laura Shin, Mr. Brooks explains that different USA banks are looking into the different possible paths they could take to adopt the digital coin. The Office of the Comptroller of the Currency (OCC) decision to allow banks to use cryptocurrency has encouraged banks to explore crypto.


The OCC moved to allow room for banks to go digital in July but, they needed to ensure there was no confusion about how to treat customers.
The OCC in a letter clarified that banks must ensure the safety of customer assets.

In the Unchained interview, Mr. Brooks, when asked about how banks have changed their attitude, said banks have contacted names like Anchorage and Coinbase.


He said banks contacted big organisations to find out if they would be willing to partner with them to create an avenue for their customers to invest in Bitcoin. Mr. Brooks continued that banks do not want to start from scratch and instead they want to buy or partner with crypto custodians to provide services on their behalf.


He noticed that banks reacted immediately after the letter and the price of crypto assets went up, suggesting that institutions felt safer to invest if banks are involved. Mr. Brook argues that to attract big investors with a lot of wealth already, they need to feel safe with an entity they already recognise like JP Morgan.


In America alone, there are 40 to 50 million American citizens who have cryptocurrency.

Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

Related News

Hot Stories

NFT collaterals soar on BendDAO: Is the NFT market about to collapse?
New Coins Coming to BitMart: Top Picks from Projects
Jordan Forex Expo & Awards (JFEX) is coming again for the 21st time!
Dubai’s top Crypto Event of the year – “Crypto Fest 2022”, is happening on 19th & 20th October 2022
Best Twitter thread of the day - August 18th

Follow Us

Industry News

Best Twitter thread of the day - August 18th
Top tweets of the day - August 18th
Redditor create a bot for crypto price predictions
Korean police set to accept crypto for traffic fines after 88% program success
How to bridge to Dogechain?