OCC Permits National Banks And Federal Savings Associations To Use Independent Node Verification Networks And Stablecoins For Payment Activities
By EsqSocial Corporation 18/01/21
As part of the Office of the Comptroller of the Currency’s (OCC) declared effort to keep pace with a mounting demand for faster, cheaper, and more efficient payments, and the widespread adoption of new technologies, the agency’s Senior Deputy Comptroller & Chief Counsel issued an interpretive letter on January 4, 2021 (the “Interpretive Letter”) clarifying the permissibility of independent node verification networks (INVNs) and related stablecoins......
By: Morrison & Foerster LLP