Adoption by banks is already underway. Maybe they won't hold crypto for customers (at the moment) but custody of these assets will take place soon because of competition. Besides the many side chain projects invested in by global finance, logistics, energy, trade and so on. In my humble opinion the financial world is focussing on the flow of value rather the old custodian practices we know of banks, they already know how to take care of that part and have available the biggest lobbies (over multiple sectors). They own the place. They will offer (payed) services initially it looks like. Mostly for current and new big accounts it seems (depending on region etc.) [Nexo.io](http://Nexo.io) is an example of a England/Swiss based bank offering custody (Goldman S. backed) and lending services for almost 4 years now. The SBI group, Goldman Sachs, R3 consortium and so on are already years underway preparing for the 'right' moment. While doing key strategic investments and creating joint ventures. There are other (DeFi) platforms with coins like Lend/Cel/Atom There is still a long way to go but custody/lending is already a use case and the DeFi world will create additional inflow into the crypto market. High compounding daily interest and low lending rates are attractive and attracting new players fast. Bullish signs everywhere for traders and the confirmation for those who see the true potential of these assets holding (and/or trading :) for a long time. There are very little assets in the world available having more than one 'potential' use cases. These coins have features still unknown and are real utility coins besides fun and fake coins money attracts. And even those can become useful or popular creating value on the go. From another perspective. The dollar / US needs the blockchain-/crypto sphere to solve the debt problem. It's their only solution it seems besides drowning their citizens and I never met a cheap US president for decades, debt will probably rise until ...? Assets (think anything of value people want to invest/speculate in) will increasingly becoming more liquid not only because the masses gain access to them (even micro parts) through digital assets. They are simultaneously speculated on and will be accumulated by stakeholders for whatever function. Mostly without user interference and even automated smart contracts contributing while you concern yourself with other things. Settlements will be verified instantly, your money freed up faster than ever. That last part of 'winning' time will create additional value, a lot of it. You can spend a dollar, receive an item, sell it within a short time and so on across borders with any currency in mind. With little effort you can circulate your money infinitely and this effect will generate enormous liquidity for those touching the flows of world wealth. These points alone can evaporate the US and global debts from my point of view or at least take away most of the pressure. Something rarely touched upon by the experts in finance besides CEO's and global fora. This narrative will become mainstream eventually if things move forward as suggested. If (/when) crypto adoption takes place you can bet on redistribution of global wealth magnifying that wealth and those left behind will never catch up again, this leap will be giant whether you like it or not and banking will claim their stake. A not so popular view I believe.

This announcement how much are importance Crypto Market show the result Today. This news give a positive impact on Crypto Market. But still lots of people try to BAN Crypto! Why??? Ans- They need to Control the Whole World using their OWN Created MONEY (Printed)! When Crypto come to break their Rules & Law! We need to Believe in Crypto & Support it.

For early Bitcoiners, this news is not big since they can manage their Bitcoins with confidence. However, if we think about the majority of people who have no idea of private keys or hardware wallets, the custodial service which banks can provide will be a huge deal. The question is how fast banks will provide this kind of services to their customers since banking industry's position is still against Bitcoin or other cryptocurrencies. Regardless of what banks will take actions, this regulation will help normal people be aware that Bitcoin is legit and asset class. Let us see when banks will join!!

good

The Office of the Comptroller of the Currency (OCC), a federal banking regulator in the U.S., is rapidly expanding crypto awareness on Capitol Hill.

This development is likely to be very positive for the digital assets space, but major U.S. banks probably won’t be holding Bitcoin any time soon.

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Up until now, the lack of regulatory clarity has meant mainstream financial firms like Fidelity have managed to get into crypto, but only by going the long way around and creating a separate legal entity, such as Fidelity Digital Assets. The OCC letter provides clarity so that banks can get closer to crypto without worrying about regulatory uncertainty

right on time...!!!

This development is likely to be very positive for the digital assets space, but major U.S. banks probably won’t be holding Bitcoin any time soon.

Yeah because crypto is the world's next currency.

Regulatory approval doesn't mean banks are about to begin providing crypto custody, but it is accelerating a conversation about financial institutions safeguarding bitcoin.

People who are supportive of crypto and blockchain technology will see this as a very positive step, and the more skeptical crowd, this’ll further entrench their viewpoint,” the Congressional staffer said. “I think there’s a very large group of politicians who have never thought about this, so that’s the real benefit is it’ll start that discussion.

Regulatory approval doesn't mean banks are about to begin providing crypto custody, but it is accelerating a conversation about financial institutions safeguarding bitcoin.

The Office of the Comptroller of the Currency (OCC), a federal banking regulator in the U.S., is rapidly expanding crypto awareness on Capitol Hill. Regulatory approval doesn't mean banks are about to begin providing crypto custody, but it is accelerating a conversation about financial institutions safeguarding bitcoin."

The OCC published an interpretive letterWednesday announcing that in its view, nationally chartered banks are able to provide custody services for cryptocurrencies, a move that the industry widely praised as one that could helpmainstream adoption of crypto, even though it’s unclear as to whether banks will immediately act  on the regulatory clarification.

This development is likely to be very positive for the digital assets space, but major U.S. banks probably won’t be holding Bitcoin any time soon.

“We support further integration of cryptocurrency into the financial system, including allowing the major financial institutions to hold this currency. It’ll lead to further legitimization of crypto,” he said.

Across the aisle, Representative Tom Emmer (R-Minn.) agreed, telling CoinDesk in an emailed statement that providing custody is “a big step forward” for financial innovation.

Both representatives are members of the Congressional Blockchain Caucus.

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The start of the big crypto pumps coincides with this announcement. The announcement is important for those concerned that crypto will be banned as it indicates the US government will not ban crypto. Higher confidence for people to get into crypto likely means more people in crypto and more money in crypto. This in turn would mean much higher prices for quality crypto offerings!