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OCC lifts support and power requirements for banks engaging successful cryptocurrency activities successful caller interpretive letter.
Mar 7, 2025, 10:32 p.m. UTC
Federally regulated banks tin prosecute successful a scope of cryptocurrency activities without anterior approval, The Office of the Comptroller of the Currency (OCC) said, successful a caller interpretive missive and statement.
In a caller interpretive letter, the OCC clarified that nationalist banks and national savings associations tin legally supply crypto custody, behaviour definite stablecoin-related activities, and tally nodes.
“The OCC expects banks to person the aforesaid beardown hazard absorption controls successful spot to enactment caller slope activities arsenic they bash for accepted ones,” said Acting Comptroller of the Currency Rodney E. Hood.
“Today’s enactment volition trim the load connected banks to prosecute successful crypto-related activities and guarantee that these slope activities are treated consistently by the OCC, careless of the underlying technology."
As portion of this caller interpretive letter, the OCC withdrew a connection it made successful 2023 connected liquidity risks for banks from crypto, suggesting a rollback of anterior concerns astir the industry's interaction connected fiscal stability.
Sam Reynolds
Sam Reynolds is simply a elder newsman based successful Asia. Sam was portion of the CoinDesk squad that won the 2023 Gerald Loeb grant successful the breaking quality class for sum of FTX's collapse. Prior to CoinDesk, helium was a newsman with Blockworks and a semiconductor expert with IDC.
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