In May 2025, a significant change occurred in the regulation of the cryptocurrency sector in the United States. The Office of the Comptroller of the Currency (OCC) and the Federal Reserve have loosened restrictions, granting national banks more freedom in dealing with digital assets.
🏦 What are banks now allowed to do?
According to OCC guidance letter No. 1184:
Custody of digital assets: banks can provide cryptocurrency custody services for clients.
Buying and selling cryptocurrency on behalf of clients: banks are entitled to conduct transactions with digital assets on behalf of their clients.
Outsourcing cryptocurrency activities to third parties: banks can outsource cryptocurrency services, such as custody and execution of transactions, to third-party organizations, provided they meet relevant risk management standards.
Furthermore, the Federal Reserve has rescinded its 2022 supervisory letter that required banks to provide prior notice of planned cryptocurrency operations. Now, banks can integrate cryptocurrency services without prior approval from the regulator, provided they adhere to standard risk management procedures.
📈 Why is this important?
These changes mark a turning point in U.S. policy regarding cryptocurrencies. Previously, banks faced strict limitations and the need to obtain regulatory approval to work with digital assets. Now, conditions are being created for broader integration of cryptocurrencies into the traditional banking system, which may contribute to increased trust in digital assets and their expanded use.
This also opens up new opportunities for bank clients, who will be able to access cryptocurrency services directly through their financial institutions, without the need to turn to third-party platforms.
Thus, the United States is taking a step toward a more open and inclusive financial future, where traditional banks and digital assets can coexist and grow together.
