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US Banks Granted Authority to Buy and Sell Crypto Assets for Customers
US Banks Granted Authority to Buy and Sell Crypto Assets for Customers
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The Office of the Comptroller of the Currency (OCC) has cleared national banks to facilitate cryptocurrency transactions on behalf of clients, marking a pivotal shift in regulatory posture. The agency’s interpretive letter confirms institutions may now engage in crypto trading and custody services without prior approval—a reversal of its 2021 stance.
Banks can leverage third-party providers for execution and safekeeping, provided partners maintain robust risk controls. This decision accelerates institutional crypto adoption, potentially funneling billions in traditional finance capital toward digital asset markets.
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