U.S. regulators just removed barriers for U.S. banks to engage with crypto. The FDIC, Fed, and OCC now allow digital assets services without prior approval. Banks can offer custody, serve crypto businesses, and use blockchain — with proper risk controls. https://t.co/ipCzTM8rum
U.S. Regulators Give Banks the Green Light for Digital Asset Activities https://t.co/Rm5IH0bVKd
What the OCC and the Fed say on bank crypto custody https://t.co/uqKlJCYTZi
The U.S. Office of the Comptroller of the Currency (OCC) has issued new guidance allowing nationally regulated banks to buy, sell, and custody cryptocurrencies, including Bitcoin, on behalf of their customers. This guidance permits banks to outsource crypto custody and trade execution services to third-party providers. Acting Comptroller Rodney E. Hood confirmed that these activities are now authorized under OCC regulations, marking a formal acceptance of digital asset services within mainstream banking. Additionally, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve have aligned with the OCC, removing previous barriers and allowing banks to engage with digital assets without requiring prior approval, provided they implement appropriate risk controls. This regulatory shift enables banks to offer custody services, serve crypto businesses, and utilize blockchain technology more freely, signaling increased integration of cryptocurrencies into the traditional financial system.
