US Banking Regulator Greenlights Crypto Services for National Banks
The Office of the Comptroller of the Currency (OCC) has cleared the way for national banks to offer cryptocurrency custody and trading services. This policy shift aligns with recent actions by the Federal Reserve, marking a significant step toward institutional adoption of digital assets.
Two interpretive letters—1183 and 1184—formalized the change, effectively nullifying a 2021 agreement that required banks to seek non-objection from regulators. The OCC also withdrew from interagency warnings about crypto risks issued in 2023.
Letter 1184 explicitly permits national banks to engage in cryptocurrency trading, expanding their role in the digital asset ecosystem. The MOVE signals growing regulatory acceptance of crypto as a legitimate financial service.
