Bank of America: The U.S. banking industry is moving towards a multi-year phase of on-chain development.

In a report on Monday, Bank of America stated that cryptocurrency policy is moving from discussion to implementation as the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve begin to outline regulatory frameworks for stablecoins and tokenized deposits in the United States. The recent approvals of projects and proposals mark the beginning of a multi-year transformation that will drive more real-world assets and payments onto the blockchain.