According to BlockBeats news on May 8, the Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1184, confirming that national banks and federal savings associations may buy and sell custody assets based on customer instructions, and are allowed to outsource permitted crypto asset activities (including custody and execution services) to third parties, provided that they comply with appropriate third-party risk management standards.
Like any activity, banks must conduct crypto asset custody activities in a safe and sound manner and in compliance with applicable laws, including activities conducted through sub-custodians.