The monetary circulation controller (OSS), which regulates the federal banks of the United States, said they will be able to provide cryptocurrency storage services and work with stablecoins.

In addition, banks received the right to act as validators in blockchain networks without the prior consent of the regulator.

Earlier, federal banks in the United States were supposed to receive a special resolution of the OSS before starting to work with virtual coins. Now the regulator has removed this requirement, but indicated that risk management should be at the same level as for classical banking operations.

The department recalled applications about the risks of digital assets, and cryptocurrencies were ceased to be considered as a separate high -risk class of assets.

Earlier, the Chairman of the US Banking Committee, Tim Scott, belonging to the Republican Party, suggested that banks refuse to maintain cryptocurrencies, referring to “reputation risks”.