The US Office of Comptroller of the Currency, which regulates national banks, has continued its face to previous opposition to cryptocurrency in banking and issues interpretive letters saying that the institutions can-hos their customers’ behavior-buying and sell crypto assets in custody.
The recently explained political attitude released by OCC on Wednesday also clarified that bankers can outsource crypto activities to third parties, including custody and executive services. As long as it all still controls the boxes with Watchdog’s requirements for security and soundness, the OCC banks give more crypto -freeness.
This week’s movement follows the agency’s turning of March of a long -term policy that demanded bankers with their government counselors before moving on with new cryptic business. “These letters signal a shift in OCC’s approach,” Katherine Kirkpatrick Bos, STARKWARE General Counsel and a former head of legal officer at CBOE Digital, noticed on social media Site X. She said the agency now seems to melt crypto into traditional banking. And the extra guidance that third parties are okay “is a blessing to regulated crypto native service providers.”
READ MORE: OCC says banks can participate in crypto -detention and certain stableecoin activities
