TechFlow news, December 12 — On December 9, the U.S. Office of the Comptroller of the Currency (OCC) issued Interpretive Letter #1188, sparking widespread discussion across the banking industry within about a week of its release. The letter confirms that national banks may act as "riskless principal" intermediaries in crypto asset trading: banks can execute trades with one client while simultaneously hedging with another, without holding crypto asset inventory in principle and only assuming limited risks such as settlement.
A BiyaPay analyst noted that this move could boost willingness among regulated institutions to enter the market and improve market liquidity, but higher risk management and compliance requirements for banks mean actual implementation will depend on product development and future regulatory details.
BiyaPay supports USDT-to-fiat remittances in USD, CAD, EUR, HKD, and more to bank accounts, enabling multi-asset trading and fund management.
