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OCC Permits U.S. National Banks to Offer Crypto Custody and Execution Services
OCC Permits U.S. National Banks to Offer Crypto Custody and Execution Services
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The Office of the Comptroller of the Currency (OCC) has issued new guidance allowing national banks under its supervision to buy, sell, and manage cryptocurrency assets on behalf of customers. The decision, outlined in an interpretive letter by Acting Comptroller Rodney E. Hood, marks a significant policy shift for the U.S. banking sector.
Banks may now provide crypto custody services directly or outsource these functions to third-party providers. This regulatory clarity reverses previous restrictions and aligns with broader efforts by federal agencies to accommodate digital asset innovation within traditional finance.
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