U.S. Banks Get Green Light for Crypto Services

The OCC, the U.S. authority overseeing national banks, has issued Interpretive Letter 1184, confirming that these institutions may offer custody and execution services for crypto assets. The decision provides legal clarity in a field where traditional financial institutions have faced uncertainty and unclear regulations.

Through this letter, the OCC affirms that banks can securely hold digital assets on behalf of clients and execute transactions according to their instructions. Additionally, such services may be outsourced to third parties, provided the associated risks are properly managed through appropriate policies.

This measure is significant as it enables a clearer integration of the crypto sector into the traditional financial infrastructure. Banks looking to expand into this segment can now do so without fear of sanctions, as long as they comply with regulatory and risk management requirements.