OCC Approves Specific Crypto Services for Banks
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The Office of the Comptroller of the Currency (OCC) has cleared US banks to provide select cryptocurrency services, marking a pivotal shift in regulatory stance. Acting Comptroller Rodney Hood affirmed on April 22, 2025, that financial institutions may now engage in crypto-related activities—provided they implement robust risk controls. The decision underscores the growing legitimacy of digital assets within mainstream finance, as over 50 million Americans now hold some form of cryptocurrency. "Banks must approach this space with both innovation and caution," Hood noted, emphasizing the need for stringent oversight. The move reflects broader institutional acceptance of crypto, even as debates over its long-term role in the financial system persist.
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