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The US Treasury OCC Issues New Guidance Allowing US Banks To Use Public Blockchains And Stablecoins As A Payment Method

One Major Step Closer To Mass Adoption

Right in accordance with our forecast that 2021 will be a tremendous year for cryptocurrency building into the next 4-year cycle high due in December, the U.S. Treasury of the Office of the Comptroller of the Currency (OCC) has just announced that national banks and federal savings associations can treat public blockchains as infrastructure similar to SWIFT, ACH and FedWire. In addition, stablecoins like USDC can be used as electronic stored value as well as a payment method.

The significance of this is simply astounding.  

This places blockchain and cryptocurrencies on a path towards all major financial and economic activity being executed on-chain. It is extremely encouraging to see such forward thinking support from the largest regulator of national banks in the United States.

The new guidance from the OCC provides assurance for banking institutions:

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to participate in independent node verification networks (INVN) and use stablecoins to conduct payment activities and other bank-permissible functions.

“While governments in other countries have built real-time payments systems, the United States has relied on our innovation sector to deliver real-time payments technologies. Some of those technologies are built and managed by bank consortia and some are based on independent node verification networks such as blockchains,” said Acting Comptroller of the Currency Brian P. Brooks. “The President’s Working Group on Financial Markets recently articulated a strong framework for ushering in an era of stablecoin-based financial infrastructure, identifying important risks while allowing those risks to be managed in a technology-agnostic way. Our letter removes any legal uncertainty about the authority of banks to connect to blockchains as validator nodes and thereby transact stablecoin payments on behalf of customers who are increasingly demanding the speed, efficiency, interoperability, and low cost associated with these products.”

The agency letter concludes a national bank or federal savings association may validate, store, and record payments transactions by serving as a node on an INVN. Likewise, a bank may use INVNs and related stablecoins to carry out other permissible payment activities. In deploying these technologies, a bank must comply with applicable law and safe, sound, and fair banking practices.
You can read the full statement here.

After years of patience, 2021 could very well be the year of celebration in the world of crypto.

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LCX Receives Approval From the Financial Market Authority of Liechtenstein

The Liechtenstein Cryptoassets Exchange, LCX, secured approvals of eight license categories under the the Token and Trusted Technology Service Provider Act (TVTG), which makes it one of the first cryptocurrency platform to achieve this important regulatory milestone in Liechtenstein, allowing LCX to offer the broadest scope of blockchain services.

LCX is proud to announce that it has become the first cryptocurrency platform to receive approvals for eight license categories from the Financial Market Authority (FMA) of Liechtenstein. To date, LCX has been operating under the transitory provisions of the Blockchain Act and has worked closely with the regulator to satisfactorily complete the assessment process. 

LCX AG, the legal entity owning and operating platform, has received the regulatory approval to operate the following services:

  • TT Exchange Service Provider
  • TT Token Depositary
  • TT Key Depositary
  • TT Price Service Provider
  • TT Identity Service Providers
  • Token Generator
  • Token Issuer on its own
  • Token Issuer on behalf of the clients

View it in the FMA Register

LCX aims to offer a full range of services in accordance with the scope and the definitions of the Lichtenstein Blockchain Laws.

“We have a long-standing commitment to building a fully regulated safe and reliable business while delivering a seamless user experience. Being one of the first cryptocurrency platforms to receive the Liechtenstein blockchain licenses is an important milestone. We look forward to rolling out additional compliant and innovative products and services in 2021,” says Monty C. M. Metzger, CEO and Founder at LCX. 

The Liechtenstein Blockchain Act officially known as the Token and Trusted Technology Service Provider Act (TVTG) has entered into force on Jan. 1, 2020. Liechtenstein has been among the first countries worldwide to introduce a comprehensive regulatory framework for the blockchain industry, encompasing definitions and specific requirements applicable for different service providers and the assets, products and services they offer. The Liechtenstein blockchain laws use the term Trusted Technology (TT) as a hypernym of distributed ledger technology (DLT), blockchain technology, cryptocurrency or digital assets.

About LCX: 

LCX is a financial technology services company that focuses on tokenization of assets, security token offerings and advanced trading tools. The LCX STO Launchpad is a one-stop tokenization platform automating the fundraising and investor management on the blockchain. The LCX Terminal brings together real-time and full historical data on all cryptocurrency markets, news, social analytics, and trading signals, powerful analytical engine, smart order routing, and trading execution capabilities — all on one solution. LCX also launched the LCX DeFi Terminal (in beta version) as a decentralized trading platform built on top of Uniswap. Recently LCX also announced the expansion of the LCX Exchange as a compliant cryptocurrency exchange for a variety of digital assets. LCX is headquartered in Liechtenstein with offices in Switzerland and India.

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Distributed Ledger, Inc. Acquires Crypto Mining Tools

Today, Distributed Ledger, Inc. (DLI), a blockchain technology service provider, announced the brand and business acquisition of North American-based cryptocurrency mining hardware supplier, Crypto Mining Tools (CMT). is a well-known industry leader in cryptocurrency mining hardware brokerage and the creator of many trusted free online tools for miners.

These tools include a hosting provider directory, a bitcoin mining profitability calculator, an in-depth ASIC mining hardware comparison chart, educational YouTube videos, and the Crypto Mining Tools Podcast. With this acquisition, DLI is excited to welcome CMT’s founder, Scott Offord, as the company’s Director of Asset Management. Scott will leverage this new role to continue the outstanding work and relationships he has built with Crypto Mining Tools.

  • Re-branding of Crypto Mining Tools
  • Re-launch of the Crypto Mining Tools Podcast
  • A new look and message behind DLI’s Fracking Miner
  • Begin scaling services for CMT’s customers

About Distributed Ledger, Inc.: DLI is a blockchain technology company with offices throughout the Southeastern United States, including AlabamaGeorgiaTexasArizona, and Wisconsin. Contact for more information.

About Crypto Mining ToolsCrypto Mining Tools is a well-known cryptocurrency mining hardware, supporting equipment supplier and colocation broker.

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World’s Largest Palladium Producer Tokenizes The Metal

A New Era Of Tokenized Transactions

The Global Palladium Fund, established by PJSC MMC Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has issued the first tokens involving metal contracts to its major industrial partners Traxys SA and Umicore SA, setting the stage for the new era of digital transactions, which will optimize supply chain efficiency and transparency.

The Global Palladium Fund has issued the digital instruments via the global tokenization platform Atomyze, backed by a pool of international investors.

The first two clients, the world’s leading commodity actors and Nornickel’s longstanding partners – Traxys and Umicore – arrived after the mining giant announced its strategy to integrate into a digital ecosystem designed to give ultimate provenance and traceability to its metals.

Anton Berlin, Nornickel’s Vice President, Sales and Distribution, commented: “Nornickel is developing and setting new standards by digitalizing market transactions. The tokens issued by the Global Palladium Fund on the Atomyze platform will allow it to deliver Nornickel’s products to customers in a more efficient and transparent way. We are confident that it will provide the industry with the necessary tools to guarantee responsible sourcing.”

Alan Docter, Traxys Chairman commented: “The Atomyze tokenization platform has the potential to revolutionize the industrial commodity market. We are excited about this opportunity to be one of the first to use the tokenization platform, and believe that this new ecosystem can make our daily operations more flexible, sustainable and profitable.”

Bernhard Fuchs, Senior Vice President, Precious Metals Management and Umicore Marketing Services, added: “We recognize the value that the Atomyze platform is delivering: efficiency, cost optimization and flexibility that tokenization brings along – it’s a leap forward towards new levels of business efficiency as well as multi-layer-documentation, and we are looking forward to set off on this innovative path.”

Atomyze uses Distributed Ledger Technology (DLT) to tokenize assets in digital form providing accessibility, reducing costs, and increasing transparency. GPF, the platform’s first client, is issuing tokens covering the whole range of metals produced by Nornickel – via the Atomyze tokenization platform operated by Tokentrust AG.

Palladium is a precious metal, the silvery-white, malleable kind of the platinum group of elements. It has the atomic symbol Pd and is the most abundant element of the elementium group. It was first discovered by the English scientist, William Hyde Wollaston, from an examination of minerals gathered on the Indian Ocean Island of Mauritius. Palladium was first used as a metal in the 1820s, mainly to conduct the electrical currents that were then fashionable. 

Cryptocurrency News

Future of Cryptocurrency

The future of Cryptocurrency is very bright indeed, and it looks as though we are about to witness a major explosion in this field. With more than half a trillion dollars worth of currencies being traded on Cryptocurrency exchanges every day, we are seeing an unprecedented growth in the market. One day soon, all of this will be possible thanks to the rise of Internet based businesses that will enable people to trade currencies digitally and track their gains and losses in real time thanks to advanced software designed for this purpose. All of this seems very likely, and the future of Cryptocurrency looks as though it may provide us with many opportunities that have never been seen before, some of which may be very profitable indeed.

If you look at the history of Cryptocurrency, you will see that there have been several major bull runs in the past, many of which occurred during the so called ‘computer gold’ times. In such cases, there were multiple parties involved in the trade, and they each drove the prices up to unrealistic heights, only to be driven down again as the market corrected itself. But in the case of Cryptocurrencies, no single party is trading or investing in the digital currency space, and this has the effect of stabilizing the market as a whole, and making it more trustworthy and secure as well. This is the kind of thing that makes investing in Cryptocurrency in the future of Cryptocurrency look very interesting indeed.

It is clear that there are some huge opportunities in the future of Cryptocurrency, and many people now see the potential for incredible profits if they simply get in now. In fact, if you look at the history of the evolution of decentralized organizations, then you will find that there have been many great success stories over the years thanks to the power of distributed ledger technology like that which is found in the bitcoin network. With such a system in place, large organizations that would normally have been too large to even conceive of could exist, and smaller, more personal operations can take place as well, benefiting from this model as well. This is the type of future of Cryptocurrency that people today should be very excited about – and when it comes right down to it, the only way to get in is to get in now, before it is too late.