Every cryptocurrency transaction is recorded in a public ledger known as the blockchain, which is the technology that makes it possible for it to exist. This allows people to follow the history of cryptocurrencies like Bitcoin to prevent them from spending coins they don't own, copying transactions, or undoing them. Because blockchain intends to eliminate intermediaries such as banks and internet marketplaces, there are no transaction costs.
Under Brooks’ leadership, the OCC began allowing banks to provide cryptocurrency custody services and store cryptographic keys in July 2020. And this January, the OCC first permitted banks to use stablecoins for payments.

Digital wallet. A software application, or other mechanism, that provides a means for holding, storing, and transferring digital currency. A wallet holds the user’s digital currency addresses, which allow the user to receive digital currency, and private keys, which allow the user to transfer digital currency. The wallet also maintains the user’s digital currency balance. A wallet provider is an individual or entity that provides the software to create and manage wallets, which users can download.
The Financial Conduct Authority (FCA) warns people about the risk of investing in cryptocurrencies, referencing price volatility, product complexity, charges and fees, marketing materials and consumer protection. 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