Deep Tide TechFlow News, on May 8, according to Interpretive Letter 1184 issued by the Office of the Comptroller of the Currency (OCC), national banks and federal savings associations may buy and sell custodial assets based on customer instructions, and may outsource bank-permitted cryptocurrency activities, including custodial and execution services, to third parties, provided they adhere to appropriate third-party risk management standards.

The OCC had also addressed relevant authorities in Interpretive Letters 1170 and 1183. The OCC emphasizes that when banks engage in cryptocurrency custodial activities (including through sub-custodians), they must ensure security, soundness, and compliance with applicable laws and regulations.