OCC Says Banks Can Custody Cryptocurrency, Certain Stablecoin Activities
Sam Reynolds | Edited by Aoyon Ashraf on March 7, 2025, 22:32 UTC
Federally regulated banks can conduct many cryptocurrency transactions without requiring prior approval, according to a new OCC guidance letter and statement.
In a new guidance letter, the OCC clarified that national banks and federal savings associations can legally provide cryptocurrency custody services, conduct certain stablecoin-related transactions, and operate nodes.
“The OCC expects banks to apply the same rigorous risk management controls to support new banking activities as they do to traditional banking activities,” said Acting Comptroller of the Currency Rodney E. Hood.
“These measures will reduce the burden on banks associated with cryptocurrency activity and ensure that the OCC treats these banking activities equally, regardless of the technology used.”
As part of this new interpretive letter, the OCC rescinded its previous statement from 2023 on cryptocurrency-related liquidity risks for banks, signaling a shift in focus away from previous concerns about the industry’s impact on financial stability.
Your email address will not be published. Required fields are marked *
[…] January 2022, the number of cryptocurrencies existing in the market increased by 1 thousand. This implies that each new…
Your writing is like a breath of fresh air in the often stale world of online content. Your unique perspective…
I would like to share my story and express my great gratitude to Maria. My husband Alexander was literally taken…