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U.S. Banks Can Now Offer Crypto Services Without Approval—OCC Confirms
U.S. Banks Can Now Offer Crypto Services Without Approval—OCC Confirms
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The U.S. Office of the Comptroller of the Currency (OCC) has cleared federally chartered banks and savings associations to provide crypto-related services, including custody and trade execution, without prior regulatory approval. The decision, formalized in Interpretive Letter 1184, eliminates Biden-era restrictions that mandated a "letter of no objection" and marks a pivotal shift toward mainstream adoption of digital assets.
Building on earlier guidance (Letters 1170 and 1183), the OCC now explicitly sanctions trade execution, crypto custody, and sub-custodian partnerships. The move underscores growing institutional confidence in cryptocurrency infrastructure, provided risk and cybersecurity protocols are met.
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