The OCC allows national banks and federal savings associations in the U.S. to engage in activities related to cryptocurrency without needing special approval. This decision has revoked previous restrictions outlined in interpretive letters from 2020-2021.
- Permitted activities: The announcement allows banks to perform certain specific activities with cryptocurrency, including:
- Acting as validators on blockchain networks like Ethereum.
- Holding and managing stablecoins.
- Providing custody services for cryptocurrencies like Bitcoin.
In other words, banks can now integrate digital assets into their traditional business operations without prior approval from regulators.
- Implications of the change: This decision marks a significant shift in U.S. regulatory policy towards cryptocurrency, reflecting a trend of acceptance and encouraging the participation of traditional financial institutions in this sector. This change has been driven by recent developments, such as President Donald Trump's executive order on March 7, 2025, establishing a strategic reserve for bitcoin and hosting a cryptocurrency summit at the White House.
