Monday, January 18, 2021

Crypto markets jump on OCC’s approval to use banks’ blockchains – Coindesk

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Cryptocurrency prices rose after the US Monetary Control (OCC) issued a statement on Monday evening. Letter U.S. banks are being allowed to use public blockchain networks.

Ether In the context of Ethereum’s dominance as a stable payment settlement protocol, there was a jump of about 12% at the time of letter release. Bitcoin also gained 5% and both the leading cryptocurrencies almost completely fell behind. Losses on Sunday evening.

“Since the launch of Negative Regulatory News, investors have been pleased to see positive regulatory news that allows stable and public blockchain consolidation in the positive banking sector,” said Justin Jasofer, managing partner at Santa Monica-based Blockhead Capital.

The letter addressed the National Banks and Federal Savings Associations to participate in the blockchain as nodes and to preserve or legitimize payments made on domestic digital assets or sustainability.

OCC’s letter stands in contrast to A. Bill Introduced in the latest congressional session so that issuers of fixed coins will be required to obtain bank charters. As a result of the aggressive anti-stagnation proposal Grants of several million dollars Top cryptocurrency advocacy groups have been sent to the Coin Center.

In mid-December, the Treasury Department proposed Known-Your-Customer (KYC) rules improved US cryptocurrency users are expected to transfer their holdings to their own personal wallet in exchange for one.

Jashofar mentioned Bitcoin And following the positive response from Ether, prices were raised on Monday from other stable support networks such as domestic tokens, such as Algorand and Solana, both of which support the two largest stabilizers: Tether (USDT) and Circle USDC Stable.

Yet the price of ether and Algorand “Responding to the news,” Jashoffar noted that Solana did not.

Bitcoin has already gained about 13% in the last check in 2021, holding the hand of the business above ,500 32,500. Ether is trading below its record high of 44,448, down about 25% to about 1 1,100.

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