Banking Regulation
OCC allows banks to broker riskless crypto transactions
An Ruwaito ta hanyar AI Hoton da AI ya samar
The Office of the Comptroller of the Currency has issued guidance permitting national banks to act as intermediaries in low-risk cryptocurrency trades. Interpretive Letter 1188 confirms that such riskless principal transactions fit within the business of banking. This move aligns with recent regulatory efforts to integrate digital assets into traditional finance.
The Central Bank of Egypt (CBE) recently organized a seminar on “Current and Emerging Regulatory Developments,” attended by representatives from approximately 23 African central banks, members of the Association of African Central Banks (AACB). The event underscores Egypt’s leading role in fostering cooperation and knowledge exchange among African financial institutions. The seminar focused on priority topics for central bank supervision, including the Pillar II and III frameworks of the Basel Accord.