Senior Advisor, Currency Audit Office: The crypto industry cover letter has been in effect for many years.

According to CoinDesk on August 18, the US Office of Currency Audit (OCC) announced in a letter last month that banks may provide cryptocurrency monitoring services. In fact, the United States Office of the Monetary Controller of the United States (OCC) has been operating in cryptocurrencies since at least 2018, and possibly even longer, according to OCC Vice President and Advisor Jonathan Gould. It usually takes several months to draft a written explanation, he said. Last month, the Treasury Department offered the option of working with cryptocurrency companies in addition to providing direct regulatory services for cryptocurrencies, but banks are unlikely to start offering two services. immediate. Banks should also ensure that they have the necessary risk management in place or legally in place before providing these services.