US OCC: Banks can buy and sell crypto assets held in customer custody and outsource related services
2025-05-07 22:40:54
The Office of the Comptroller of the Currency (OCC) issued an explanatory letter on Wednesday, making it clear that banks can "buy and sell crypto assets under their custody at the request of customers." The OCC also noted that banks "may outsource crypto-related activities to third parties, including custodial and enforcement services." The new policy continues a shift from the agency's previous policy in March, which no longer requires banks to obtain regulatory approval before moving forward with crypto.
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