OCC Says Banks Can Engage in Crypto Custody and Certain Stablecoin Activities

BTC $ 86,200.27 - 4.51 % ETH $ 2,136.67 - 3.50 % USDT $ 0.9998 - 0.04 % XRP $ 2.3914 - 8.19 % BNB $ 593.25 - 0.96 % SOL $ 141.54 - 1.53 % USDC $ 1.0001 - 0.01 % DOGE $ 0.2001 - 1.45 % ADA $ 0.8189 - 10.00 % TRX $ 0.2445 + 1.57 % WBTC $ 86,114.31 - 4.56 % LINK $ 15.97 - 6.83 % HBAR $ 0.2334 - 2.02 % LEO $ 9.9334 + 0.09 % XLM $ 0.2852 - 4.24 % AVAX $ 20.26 - 4.54 % SUI $ 2.6172 - 5.53 % LTC $ 103.89 + 0.30 % SHIB $ 0.0₄1323 - 1.93 % BCH $ 392.50 - 0.91 % Ad Sign Up News Back to menu News Prices Back to menu Prices Data Back to menu Data Trade Data Derivatives Order Book Data On-Chain Data API Research & Insights Data Catalogue AI & Machine Learning Indices Back to menu Indices Multi-Asset Indices Reference Rates Strategies and Services API Insights & Announcements Documentation & Governance Consensus Back to menu Consensus Sponsored Back to menu Sponsored Videos Back to menu Videos CoinDesk Daily Shorts Editor's Picks Podcasts Back to menu Podcasts CoinDesk Podcast Network Markets Daily Gen C Unchained with Laura Shin The Mining Pod Newsletters Back to menu Newsletters The Node Crypto Daybook Americas State of Crypto Crypto Long & Short Crypto for Advisors Research Back to menu Research Webinars & Events Back to menu Webinars & Events Consensus 2025 Policy & Regulation Conference Sponsored Back to menu Sponsored Thought Leadership Press Releases CoinW MEXC Phemex Advertise News Sections Back to menu News Sections Markets Finance Tech Policy Focus English Select Language English en Español es Filipino fil Français fr Italiano it Português pt-br Русский ru Українська uk News Prices Data Indices Consensus Sponsored Sign In Sign Up Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email OCC Says Banks Can Engage in Crypto Custody and Certain Stablecoin Activities OCC lifts approval and control requirements for banks engaging in cryptocurrency activities in new interpretive letter. By Sam Reynolds | Edited by Aoyon Ashraf Mar 7, 2025, 10:32 p.m. UTC A sign outside the OCC office (CoinDesk) What to know : The Office of the Comptroller of the Currency (OCC) said that federally regulated banks can engage in various cryptocurrency activities without prior approval. The OCC has withdrawn its 2023 statement on liquidity risks for banks from crypto, indicating a shift in its previous concerns about the industry's impact on financial stability. Federally regulated banks can engage in a range of cryptocurrency activities without prior approval, The Office of the Comptroller of the Currency (OCC) said, in a new interpretive letter and statement. In a new interpretive letter , the OCC clarified that national banks and federal savings associations can legally provide crypto custody, conduct certain stablecoin-related activities, and run nodes. “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,” said Acting Comptroller of the Currency Rodney E. Hood. Story continues Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . “Today’s action will reduce the burden on banks to engage in crypto-related activities and ensure that these bank activities are treated consistently by the OCC, regardless of the underlying technology." As part of this new interpretive letter, the OCC withdrew a statement it made in 2023 on liquidity risks for banks from crypto, suggesting a rollback of prior concerns about the industry's impact on financial stability. OCC banks Regulations Sam Reynolds Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC. X icon About About Us Masthead Careers CoinDesk News Crypto API Documentation Contact Contact Us Accessibility Advertise Sitemap System Status DISCLOSURE & POLICES CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies . CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one. Ethics Privacy Terms of Use Cookie Consent Do Not Sell My Info © 2025 CoinDesk, Inc. X icon