US banks cleared to handle crypto custody and trading
The US Office of the Comptroller of the Currency (OCC) has clarified that banks under its supervision are allowed to engage in crypto-related activities on behalf of customers.
This includes trading digital assets held in custody and outsourcing certain functions to third-party providers. In a letter dated 7 May 2025, the OCC stated that national banks and federal savings associations can buy and sell cryptocurrencies as directed by customers, provided the assets are already held in custody. The regulator also confirmed that institutions may delegate crypto-related services such as custody and execution to external firms, so long as such arrangements comply with existing banking laws and risk management standards.
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