According to BlockBeats, on March 8, the U.S. Office of the Comptroller of the Currency (OCC) issued a new interpretive letter allowing federally regulated banks to engage in cryptocurrency custody, stablecoin-related activities, and blockchain node operations without prior approval. The OCC also withdrew its 2023 statement concerning banks' crypto liquidity risks.
Acting Comptroller Rodney E. Hood stated that the OCC expects banks to maintain robust risk management controls for new banking activities, similar to those for traditional operations. He emphasized that the recent measures aim to reduce the burden on banks engaging in crypto-related activities and ensure consistent treatment under OCC supervision, regardless of the underlying technology. Hood affirmed his commitment to effective yet non-excessive regulation while maintaining a strong federal banking system.