The Office of Foreign Exchange Control (OCC), one of America's main banking regulators, has given the go-ahead for local banks to cooperate with companies issuing stablecoins. This statement was made by the new head of the OCC, Jonathan W. Gould, and it marks a major turnaround in digital asset regulation policy.

This decision by the regulator is designed to help local banks keep up with major financial players and fintech companies, with which competition is growing. OCC has come a long way in relation to the crypt: first, they allowed some operations, then tightened the screws a little, and now they decided to remove the restrictions.

The regulator believes that stablecoins will open up new prospects for banks in developing digital payment solutions. This will make settlement operations cheaper and expand the customer base. This is especially true in regions where access to regular banking services is difficult.

At the same time, OCC is aware of the risks associated with the instability of stablecoin reserves and possible reputational costs when working with commercial issuers. In this regard, the agency emphasizes the availability of updated control methods aimed at reducing possible negative consequences.

It is assumed that the introduction of new rules will contribute to the integration of stablecoins into existing payment systems, the development of settlements between banks and the creation of universal platforms for local banks. This could significantly affect the entire retail payment system in the United States.