US Banking Authority Clears Path for Crypto Services at National Banks

The Office of the Comptroller of the Currency (OCC) has removed regulatory barriers, authorizing national banks to engage in crypto-asset activities. This pivotal shift, announced on May 13, resolves long-standing ambiguities that deterred institutional participation.

Banks may now offer crypto custody services, execute customer-directed trades, and leverage third-party providers under existing risk frameworks. The OCC’s Interpretive Letters 1183 and 1184 formalize the rollback of prior restrictions, including the 2021 ’non-objection’ process outlined in Letter 1179.

The MOVE aligns with recent Federal Reserve policies, signaling growing institutional acceptance of digital assets. Market participants anticipate accelerated adoption as traditional finance integrates crypto services.