Banks acting as validators risks centralization — Everstake exec

New US regulatory guidance clarifies that banks can act as validators for proof-of-stake networks.

New US regulatory guidance allowing banks to become validators for blockchain networks is a major step for institutional adoption but worsens centralization risks, Bohdan Opryshko, chief operating officer of staking service provider Everstake, told Cointelegraph. 

On March 7, the US Office of the Comptroller of the Currency (OCC) eased its stance on how banks can engage with crypto, including permitting banks to participate “in independent node verification networks,” the regulator said. 

Opryshko said US banks’ increased involvement in proof-of-stake (PoS) networks, such as Ethereum and Solana, could be a “double-edged sword.” 

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