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Is the US Stance towards Crypto's Thawing?

By Keith Thuerk | New to Crypto's? | 1 Nov 2020


Is the US Stance towards Crypto's Thawing?

 

I have seen several promising factors or the past few weeks pointing in that direction, however, that does not mean that the US will open the floodgates and be fully accepting of Crypto's in the near term.  So, this weeks encouraging event was the from the Office of Comptroller of the Currency (AKA OCC) which spoke to a July '20 meeting within the OCC. The result was the OCC will allow banks to provide custody for cryptocurrencies, 

The story netter out that a number of big crypto custodians such as Coinbase, and a number of others, have been contacted by banks about whether they’d be willing to be like the third-party custody providers for national banks whose customers want to invest in Bitcoin. What is not clear is if this will apply to so called Wealth building coins/tokens or just to the Blue chips such as BTC and ETH.

 

The other encouraging event from the OCC this week also came from Brian Brooks who stated "the creation of the U.S. digital dollar is a terrible one because the government is not good at building things.  WooHoo he gets the fact that the US needs and is demanding Free Markets again!

Brooks, then used analogies to support his stance on stablecoins, believes the United States can only flourish when the government allows the private sector to innovate.

 

Enjoy the Journey, it is an exciting time!

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Keith Thuerk
Keith Thuerk

Currently learning about Crypto and DeFi to combat the Inflationary Tidal wave coming our way!


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