US OCC Releases Pro-XRPL Statement

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The office of the Secretary of Currency (OCC) has reaffirmed that the National Bank and the Federal Savings Association can engage in a variety of cryptocurrency activities, including asset custody, stabrushin trading and participation in distributed ledger networks.

With the release of Interpreter 1183, the OCC aims to remove the requirement for banks to obtain non-rejection of supervision before engaging in these activities, and streamline compliance while maintaining strong risk management standards.

Acting Head Rodney E. Hood emphasized the need to apply the same level of surveillance to crypto-related services banks provide for traditional banking operations, ensuring a balance between innovation and regulatory stability.

In line with this shift, the OCC has withdrawn from two previous interagency statements on crypto risk and liquidity concerns. Additionally, the OCC has withdrawn Interpretation 1179 from 2021, demonstrating a more flexible approach to crypto banking regulations.

The OCC will continue to consider bank crypto activities, including custody services, stubcoin reserves and blockchain-based payments, as part of its supervised oversight.

Banks involved in these areas must adhere to sound risk management practices and ensure compliance with applicable laws while integrating these services into a broader business strategy.

This statement shows the preferred location of XRP Ledger (XRPL), a decentralized public blockchain designed for the fast transfer of XRP, Fiat currency and digital assets.

Ripple’s XRP Recent Developments

Ripple Labs continues to expand its RLUSD ecosystem, securing key lists on platforms like Revolut and Zero Hash, increasing accessibility across multiple regions.

RLUSD plays a key role in strengthening the market maker (AMM) liquidity pool automated in XRP ledgers, especially after the recent AMM fixes were published on Mainnet.

Additionally, Braza, a company specializing in international payments, has announced the launch of Brazil’s real-standing Stablecoin at XRPL, further diversifying the provision of Stablecoin for its ledgers, and strengthening its role in global payments.