The OCC has rescinded certain Agency decisions, allowing national banks and federal savings associations to engage in crypto-asset custody and stablecoin activities.
The decision is seen as a move towards easier banking access for crypto firms and reduces the burden on banks engaging in crypto-related activities.
The OCC's actions are praised by the American Bankers Association, which sees it as an important step towards involving banks in the fast-evolving crypto market.
This decision is expected to enable banks to actively participate in blockchain networks like XRP Ledger, potentially impacting the XRP price positively.