US EditionOCC’s New Guidance Marks Shift In U.S. Crypto Banking Regulations
- The Office of the Comptroller of the Currency released interpretive letters signaling a shift in U.S. Crypto regulation during the White House Crypto Summit.
- The OCC's new guidance allows national banks to provide cryptocurrency services without special approval, marking a significant change in policy.
- Under Acting Comptroller Rodney E. Hood, the OCC's new stance encourages banks to engage with crypto while managing risks effectively.
- Rodney E. Hood stated, 'Digital assets should and need to be a part of the American economy,' reinforcing the OCC's commitment to supporting blockchain innovation.
45 Articles
45 Articles
US Regulator Says Banks Can Engage in Some Cryptocurrency Activities
A U.S. regulator said on March 7 that banks can engage in some activities related to cryptocurrencies. The Office of the Comptroller of the Currency (OCC) clarified in a statement that the permitted activities include keeping hold of crypto assets and maintaining reserves for stablecoins, a class of crypto that features prices tied to other assets. The OCC said it was rescinding a 2021 policy that set limits on when banks could hold crypto, incl…
OCC Says Banks Can Engage in Crypto Custody and Certain Stablecoin Activities
Federally regulated banks can engage in a range of cryptocurrency activities without prior approval, The Office of the Comptroller of the Currency (OCC) said, in a new interpretive letter and statement. In a new interpretive letter, the OCC clarified that national banks and federal savings associations can legally provide crypto custody, conduct certain stablecoin-related activities, and run nodes. “The OCC expects banks to have the same strong…
US bank regulator reaffirms banks can engage in some crypto activities
WASHINGTON : The U.S. regulator overseeing national banks clarified on Friday that banks can engage in some crypto activities, and removed expectations firms should receive advance permission from regulators before doing so.The Office of the Comptroller of the Currency said in a statement that national ba
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