Revolut has partnered with Lightspark to integrate Bitcoin’s Lightning Network into its payments infrastructure for users in the UK and select European Economic Area countries. Revolut is now using Bitcoin’s (BTC) Lightning Network through Lightspark to let users send crypto…

Revolut partners with Lightspark to add Bitcoin Lightning for UK and EEA users

Bhutan has partnered with Binance Pay and DK Bank to launch the world’s first 
national crypto-based tourism payment system, allowing visitors to use digital 
assets for everything from hotels to market purchases, boosting financial 
inclusion and innovation. Bhutan Becomes First Nation to Power Entire Tourism 
Sector with Crypto In a landmark move blending technology with […]

Bhutan Goes Fully Crypto for Tourism in Historic Partnership With Binance Pay

Financial infrastructure company Stripe has launched stablecoin accounts in 
over 100 countries that will allow users to transact using stablecoins. The 
feature was announced during Stripe’s annual user event in San Francisco, 
where the company revealed a broader push into…

Stripe stablecoin accounts go live in over 100 countries

The US Office of the Comptroller of the Currency (OCC) has confirmed banks 
under its jurisdiction can trade crypto on behalf of customers and outsource 
some crypto activities to third parties.
Acting comptroller Rodney Hood said in a May 7 letter that banks and federal 
savings associations can buy and sell crypto they hold in custody at 
customers&#8217; direction.
The OCC added in a press release that financial institutions can also 
outsource bank-permissible crypto activities, including custody and execution 
services, to third parties in compliance with applicable law.
&#8220;Additionally, these banks may provide other custody services, including 
record keeping, tax or reporting services for their customers,&#8221; Hood said in a 
May 7 video posted to X.
&gt; OCC-regulated banks may buy and sell assets held in custody and are 
&gt; permitted to outsource bank-permissible crypto-asset activities, including 
&gt; custody and execution services. https://t.co/0ScQdgNaS6 
&gt; pic.twitter.com/J5dEkx4WUL 
&gt; 
&gt; &#8212; OCC (@USOCC) May 7, 2025
&#8220;OCC banks may use a sub-custodian to provide the same services subject to 
appropriate third-party risk management practices, while a range of 
cryptocurrency and digital asset activities may be performed by banks and 
their third parties,&#8221; he added.
Previously, the OCC eased its stance on how banks can engage with crypto on 
March 7 by giving the green light for crypto-asset custody, some stablecoin 
activities, and participation in independent node verification networks such 
as distributed ledgers.
&#8220;More than 50 million Americans hold some form of cryptocurrency. This 
digitalization of financial services is not a trend; it is a transformation,&#8221; 
Hood said.
The OCC is an independent bureau within the US Department of the Treasury that 
regulates and supervises all national banks and also the federal branches of 
foreign banks.
## Industry supports the OCC letters
Katherine Kirkpatrick Bos, general counsel at ZK-rollup developer StarkWare, 
said the letters signal a &#8220;shift in the OCC&#8217;s approach,&#8221; which now appears to 
favor a focus on integrating crypto within banking frameworks.
&#8220;More guidance will give further clarity [and] will allow banks to re-enter 
crypto [without] the fear of existential regulatory risk,&#8221; she said.
She added the OCC&#8217;s &#8220;explicit permission today allowing banks to outsource 
bank-permissible crypto-assets is a boon to regulated crypto native service 
providers.&#8221;
_Source:__Katherine Kirkpatrick Bos_
Chief policy officer at crypto exchange Coinbase, Faryar Shirzad, also 
applauded the move, saying in a May 7 post to X, Hood&#8217;s commitment to 
&#8220;regulatory clarity, as well as his adherence to supervisory best practices 
and the letter of the law,&#8221; is appreciated.
The Trump administration has taken a friendlier attitude toward crypto since 
coming into power in January.
_**Related:**__**The lessons learned at Operation Chokepoint 2.0 Congressional 
hearings**_
In April, the US Federal Reserve announced it was withdrawing guidance that 
was created to deter banks from engaging in crypto and stablecoin activities.
US President Donald Trump also signed a joint congressional resolution on 
April 11, overturning a Biden administration-era rule that would have required 
decentralized finance protocols to report transactions to the Internal Revenue 
Service.
_**Magazine:**__**SEC &#8216;s U-turn on crypto leaves key questions unanswered**_

US banks can handle customer crypto assets held in custody, regulator confirms

Group of Seven (G7) leaders could discuss North Korea&#8217;s escalating 
cyberattacks and crypto thefts at an upcoming summit in Canada, mid-next 
month.
Conflicts in Ukraine and Gaza will dominate discussions, but North Korea&#8217;s 
increasing cyber threats and crypto hacks have become a major concern 
requiring a coordinated international response, Bloomberg reported on May 7, 
citing people familiar with the plans.
The people said North Korea&#8217;s nefarious cyber operations are alarming, as the 
stolen crypto has become a key funding source for the regime and its programs.
North Korean-affiliated hacking groups such as the Lazarus Group have already 
stolen billions of dollars worth of crypto this year, including pulling off 
the $1.4 billion hack on Bybit in February, the largest ever for the crypto 
industry.
North Korean-linked hackers also stole more than $1.3 billion through 47 
crypto heists during 2024, according to blockchain analytics firm Chainalysis. 
The US, Japan and South Korea warned in January that North Korea also deployed 
tech workers to infiltrate crypto companies as insider threats.
_North Korea &#8216;s crypto-related hacking activity by year. Source: 
__Chainalysis_
North Korean &#8220;information technology (IT) workers also present an insider 
threat to private sector partners,&#8221; the statement read.
The illicit proceeds from these high-profile hacks have helped the hermit 
kingdom circumvent international sanctions and fund its weapons development 
programs, according to a US Treasury report in September.
_**Related:**__**North Korean crypto attacks rising in sophistication, actors 
&#8212; Paradigm**_
In April, a group affiliated with Lazarus set up three shell companies, with 
two in the US, to deliver malware to unsuspecting users and scam crypto 
developers.
## Infiltrating crypto companies
Earlier this month, crypto exchange Kraken detailed how it foiled an attempt 
by a North Korean hacker to infiltrate its organization.
Kraken&#8217;s chief security officer, Nick Percoco, conducted trap identity 
verification tests that the candidate failed, confirming the deception.
Cyber threat intelligence expert at Telefonica and blockchain security 
researcher, Heiner Garcia, also uncovered how North Korean operatives secured 
freelance work online.
In February, Garcia invited Cointelegraph to take part in a dummy job 
interview he had set up with a suspected North Korean operative, who 
accidentally shared details that linked him to the nation&#8217;s crypto scams.
_**Magazine:**__**Bitcoin to $1M &#8216;by 2029,&#8217; CIA tips its hat to Bitcoin: 
Hodler&#8217;s Digest**_

G7 summit could discuss North Korea’s crypto hacks: Report

Oregon&#8217;s legal framework for digital assets could enhance clarity and security 
in digital commerce, potentially boosting economic innovation.
The post Oregon passes bill to establish legal control standards for digital 
assets appeared first on Crypto Briefing.