The Office of the Comptroller of the Currency (OCC) has rescinded previous restrictions, allowing U.S. banks to engage in various cryptocurrency activities without prior regulatory approval. This regulatory shift enables banks to custody Bitcoin and handle stablecoins, marking a significant advancement in the regulatory landscape for digital assets. The OCC's interpretive letter clarifies that national banks can now participate in crypto custody, stablecoin operations, and even run independent node verification networks. This development is expected to enhance the competitiveness of U.S. banks in the digital asset space. Financial institutions have expressed optimism regarding this regulatory clarity, which is seen as a catalyst for mainstream crypto adoption. Additionally, Bank of New York Mellon (BNY) is expanding its services for Circle, a stablecoin issuer, further indicating a warming relationship between traditional finance and the crypto sector.