The Office of the Comptroller of the Currency (OCC) has opened the door for banks to provide crypto custody services. This move comes in the wake of President Donald Trump’s decision to terminate Operation Chokepoint 2.0, a program aimed at restricting access to banking services for certain industries, including cryptocurrency businesses.
The OCC’s decision to allow banks to custody crypto assets marks a significant shift in the regulatory landscape for digital assets. This move could potentially make it easier for individuals and institutions to securely store and manage their cryptocurrency holdings.
President Trump’s move to end Operation Chokepoint 2.0 has been welcomed by many in the crypto community, who have long criticized the program for unfairly targeting legitimate businesses. By putting an end to this initiative, the Trump administration has signaled a more favorable stance towards the crypto industry.
Overall, the OCC’s announcement and President Trump’s decision to terminate Operation Chokepoint 2.0 are positive developments for the cryptocurrency sector. This regulatory change could pave the way for greater adoption of digital assets and increased integration of crypto services within the traditional banking system.