Bank of America approved to provide cryptocurrency trading intermediary services for clients

Foresight News reported that the US Office of the Comptroller of the Currency (OCC) announced that US banks can act as intermediaries for cryptocurrency transactions, buying and selling digital assets on behalf of clients. This type of "riskless principal transaction" model is the same as the way banks currently handle securities transactions for clients, where the bank acts solely as an intermediary and does not include crypto assets in its own inventory.