OCC: Banks Are Good To Hold Crypto
In a stark reversal from the Biden administration, the Office of the Comptroller of the Currency (OCC) has issued a statement that chartered banks may hold crypto.
During the Biden years, the government took a distinctly hostile stance toward digital assets and innovation in general. Banks were discouraged from holding crypto in a joint statement issued by the OCC, the Board of Governors of the US Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) issued a joint statement cautioning banks on their activities that involve digital assets (crypto).
The statement cautioned about scams and frauds as well as legal uncertainties and questionable representations. Regulators walked up to the line telling banks that…
