On May 7, 2025, the U.S. Office of the Comptroller of the Currency (OCC) published an explanatory letter regarding the interaction of banks with the cryptocurrency sector. According to it, financial counterparties can now buy and sell digital assets on behalf of their clients.
The document states that banks can:
Letter No. 1184 confirms the provisions outlined in document No. 1170, which established the possibility for banks to provide custodial services. The latter was published back in 2020.
It also refers to letter No. 1183, published by the Management in March 2025. In it, OCC canceled the requirement for banks to obtain permission to interact with the crypto business.
CLO of Starkware Catherine Kirkpatrick Bos commented on this:
Let us remind you that under the previous administration of the White House, OCC and other federal regulatory bodies accused of debanking the crypto sphere.
In December 2024, U.S. House of Representatives member French Hill announced an investigation into such cases.
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OCC allowed American banks to buy and sell cryptoassets on behalf of clients
On May 7, 2025, the U.S. Office of the Comptroller of the Currency (OCC) published an explanatory letter regarding the interaction of banks with the cryptocurrency sector. According to it, financial counterparties can now buy and sell digital assets on behalf of their clients.
The document states that banks can:
Letter No. 1184 confirms the provisions outlined in document No. 1170, which established the possibility for banks to provide custodial services. The latter was published back in 2020.
It also refers to letter No. 1183, published by the Management in March 2025. In it, OCC canceled the requirement for banks to obtain permission to interact with the crypto business.
CLO of Starkware Catherine Kirkpatrick Bos commented on this:
Let us remind you that under the previous administration of the White House, OCC and other federal regulatory bodies accused of debanking the crypto sphere.
In December 2024, U.S. House of Representatives member French Hill announced an investigation into such cases.