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Guidance Will Help Banks Ease Into Crypto: Comptroller of the Currency

The Office of the Comptroller of the Currency is hopeful that guidance is the key to getting traditional banks on board with cryptocurrency. So reports The Wall Street Journal.

OCCTo that end, it has issued a number of “interpretive letters” in order to help banks understand how emerging fintech works. “The agency is trying to counter the perception held by some traditional banks that transactions involving cryptocurrencies present heightened risks that require lengthy and expensive due-diligence checks,” according to the article. A recent survey of financial professionals shows criminal activity as a top concern regarding cryptocurrency.

Read the full story from The Wall Street Journal.

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