US OCC states that US FI’s are allowed to use Stablecoins for payment activities

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The US Office of the Comptroller of the Currency (OCC) said in an interpretive letter that US financial institutions are allowed to use stablecoins for payment activities, and can participate as nodes in a blockchain. However, it warns banks to maintain compliance with the BSA. When dealing with evolving technology such as cryptoassets, all institutions must review local regulatory requirements so they operate within the law.

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