OCC Green-Lights Crypto Activities for Banks
In recent months, the federal Office of the Comptroller of the Currency (OCC) has signaled a more permissible regulatory stance towards national banks and federal savings associations (collectively, banks) engaging in crypto-asset activities. “I will continue to work diligently to ensure regulations are effective and not excessive, while maintaining a strong federal banking system,” said Acting Comptroller of the Currency Rodney E. Hood earlier this year.
On March 7, the OCC began formalizing its shift away from its Biden-era approach to regulating banks’ crypto-asset activities with the issuance of Interpretive Letter 1183. Through this interpretive letter, the OCC rescinded its supervisory non-objection process for banks seeking…
