OKCoin Says Institutional Investors Benefit Most From OCC Crypto Clarity

OKCoin Says Institutional Investors Benefit Most From OCC Crypto Clarity


Recent digital asset custody clarity from the U.S. Office of the Comptroller of the Currency, or OCC, will likely affect institutional investors more, according to OKCoin CEO Hong Fang.

“The biggest impact will potentially be on institutional investors,” Fang told Cointelegraph.

She added:

“Retail investors have a much wider range of existing choices (and preferences). I look forward to seeing more banks becoming more open to crypto, with potentially better banking channels, more public awareness, as well as more regulatory clarity. A better user experience ultimately wins.”

The OCC brings clarity

On July 22, the OCC clarified a former regulatory grey area of sorts around cryptocurrency custody. As a result, federally chartered banks now know they can custody cryptocurrencies

“The OCC ruling is definitely positive news for the nascent crypto industry, as crypto assets are now considered a legitimate asset class for banks,” Fang said. “The OCC has made an important milestone by allowing

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