2026-01-01 16:22:09

Recently, the interpretive letter No. 1188 issued by the U.S. Office of the Comptroller of the Currency (OCC) has attracted considerable attention in the industry. Many people find this document dull and boring, but in fact, it reveals the key trends in the crypto market for the next six months.

What does this publicly released document on December 9 do? In simple terms, it explicitly permits national banks to conduct crypto asset activities under the "riskless principal trading" model. This wording may sound a bit stiff, but from a different perspective, it becomes clear: banks can act as intermediaries in transactions, not holding crypto assets themselves, but only facilitating the matching of buyers and sellers.

How does it work specifically? For example, if a client wants to buy 1 Bitcoin, the bank immediately finds a seller in the market or quickly purchases it itself, then resells it to the client, charging a fee or spread. The entire process makes the bank act like a "courier," earning service fees without holding inventory or bearing market risk like a "trader."

This regulatory document is indeed significant. Reflecting on the market enthusiasm when Bitcoin spot ETFs were approved in 2021, the impact of this development could be even broader. Why? Because it signifies that the U.S. banking system is officially opening the door to crypto assets, transitioning from a tentative phase to institutionalized operations integrating traditional finance and digital assets.

From a compliance perspective, the channel for banks to enter the crypto market has been officially opened. Under the "riskless principal trading" framework, banks can legally provide clients with buying and selling services for Bitcoin and other crypto assets without bearing market volatility risks themselves. For traditional investors wanting to access the crypto market, this means an additional relatively formal entry point.

For Bitcoin and the entire crypto market, this is a positive signal. The channel for institutional capital inflows is expanding, and the market depth and liquidity will increase accordingly. As more traditional financial institutions participate, the status of crypto assets within the global financial system will be further consolidated.

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TrustMeBro

· 6h ago

Banks acting as couriers to earn the difference—I've seen this trick too many times, just worried that in the end it'll still be a rug pull. By the way, will there really be a large influx of capital this time, or is it just another hope dashed? Even if OCC approves it, that doesn't mean traditional investors will really buy Bitcoin. The key still depends on how it will be implemented later. Wait, does this mean that in the future, buying coins will have to go through banks? How high will the fees be? If this truly becomes institutionalized, it’s quite interesting, but I still believe there’s room for further operation. Bank involvement is never a bad thing; as liquidity increases, prices tend to follow. The basic logic is sound. In simple terms, it gives traditional finance a reason to get involved, and they no longer need to hide or hide. Wait, wait, wait—does this mean the compliance army is about to rise? Those old-timers in the crypto circle better be careful. It feels like a repeat of the Bitcoin spot ETF hype, but this time the scope is indeed broader.

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OffchainOracle

· 6h ago

Banks acting as couriers to earn fees—traditional finance is really getting on board now --- Wait, does this mean large institutional inflows in the second half of the year? Keep a close watch --- Risk-free principal trading, in simple terms, is just banks not bottom-fishing, making a profit from the spread. Clever --- This move by OCC might have an even greater impact than the ETF approval, fully opening the compliance channel --- So now banks can also help you buy Bitcoin? That truly changes the game --- With traditional finance entering the market, depth and liquidity are increasing. This wave is indeed a watershed for the crypto market --- Those who understand this document should already be making their moves --- Banks acting as intermediaries without holding positions themselves—very prudent. No wonder OCC approved it --- From tentative steps to institutionalization, the US financial sector is finally taking this seriously

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WenAirdrop

· 6h ago

Banks acting as couriers to earn handling fees—this trick I like. Traditional finance has finally woken up.

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memecoin_therapy

· 6h ago

Banks acting as couriers, now traditional finance is really being forced to get competitive --- It's the same old story, loosening a bit is seen as a big positive, but I feel like it's just a new way to cut leeks --- Not holding risk yourself? Laughable, risks won't just disappear, they’re just transferred to retail investors --- Now it's all good, even aunties can buy coins through banks, next step is probably to skyrocket --- OCC's move is indeed insidious, seeming to provide an exit, but actually paving the way for institutions to fully control liquidity --- Here we go again, every time regulators loosen up, someone calls for a bull market, but I’ll wait and see --- The compliant entry point... basically, banks want to earn our transaction fees, the nature hasn't changed --- Does this logic hold up? Do banks really only earn fees? I think there will definitely be other tricks in the future --- Wait, could this actually make the crypto space more easily regulated and tightly controlled?

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