Overview

• The Office of the Comptroller of the Currency (OCC) now permits national banks to buy, sell, and manage crypto assets in custody at their customers' direction.
• Banks are also authorized to outsource crypto custody and execution services to regulated third-party providers, provided they meet safety and soundness standards.
• This guidance reverses the 2021–2022 requirement for banks to obtain prior supervisory non-objection before engaging in crypto-related activities.
• The OCC's move aligns with recent actions by the Federal Reserve and FDIC, which rescinded similar pre-approval requirements for crypto services.
• The decision reflects a coordinated shift among U.S. financial regulators toward integrating digital assets into traditional banking frameworks.