03.07.25

OCC Clears Banks for Crypto-Related Activities

by: Brady Dale

Banks supervised by the Office of the Comptroller of the Currency (OCC) will no longer need permission to engage in certain kinds of common cryptocurrency-related activities. The OCC's interpretative letter 1183 clarifies that banks under the OCC may conduct cryptocurrency custody activities, engage in stablecoin businesses and operate as validation nodes on distributed ledgers, for verifying customer payments. "The OCC expects banks to have the same strong risk management controls in place to support novel bank activities as they do for traditional ones," acting Comptroller of the Currency Rodney Hood said.

Read the full article on Axios