US banks can hold reserve funds for stablecoin issuers, says federal regulator

posted about 1 month ago
Federally chartered banks can hold reserve funds for stablecoin issuers, according to new guidance from the U.S. Office of the Comptroller of the Currency.

“This opinion provides greater regulatory certainty for banks within the federal banking system to provide those client services in a safe and sound manner,” Acting Comptroller Brian Brooks said in a statement. The letter stressed that banks are cleared to hold such reserves provided that ” the issuer has sufficient assets backing the stablecoin in situations where there is a hosted wallet.”
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