OCC allowed American banks to buy and sell cryptoassets on behalf of clients

robot
Abstract generation in progress

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.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)