US Treasury OCC gives banks a green light for the use of public blockchains and dollar stablecoins

The US Office of the Comptroller of the Currency (OCC) issued guidance, which allows banks to use blockchains and stablecoins for payments provided such practices comply with the law and payment transactions are recorded on an INVN (independent node verification network). According to OCC, blockchain may boost the efficiency and stability of payments, which is necessary for the highly competitive financial sector. OCC’s letter removes certain legal uncertainty connected with blockchain technologies and gives them a green light in the American financial world.

Source:

https://decrypt.co/53152/us-treasury-to-allow-blockchains-stablecoins-for-bank-payments?utm_medium=referral&utm_campaign=feed&utm_source=flipboard