US Banks Get Green Light to Trade Customer Crypto—Regulators Finally Catch Up

Wall Street’s old guard just got a backstage pass to the crypto circus. The OCC’s latest guidance confirms what crypto natives knew years ago: banks can now legally buy, sell, and custody digital assets on behalf of clients.

Subheader: The Fine Print (Because Banks Love Fine Print)

National banks must still comply with anti-money laundering rules—meaning your ’anonymous’ Bitcoin purchase just got a paper trail longer than a Wall Street bonus contract. The ruling applies to stablecoins, Bitcoin, and ’other real-world assets’ (translation: anything regulators haven’t blacklisted yet).

Subheader: Custody Wars Heat Up

JPMorgan and BofA now face direct competition from Coinbase and Kraken. Watch for ’security fee’ innovations—banks won’t let 2% custody fees slip through their fingers without a fight.

Closing jab: Nothing accelerates adoption like letting traditional finance take its cut. Welcome to decentralization—now with monthly account maintenance fees.