BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

OCC Authorizes Banks to Buy, Sell, and Custody Crypto in Major Regulatory Shift

by Chiwuike Owunwa
May 8, 2025 - 4:31 pm
in Blockchain
PYTH token price soars as Trump administration selects blockchain oracles for economic data

OCC Lifts Restrictions: Banks Cleared to Handle Crypto

In a significant regulatory shift, the Office of the Comptroller of the Currency (OCC) has approved U.S. banks under its supervision to buy, sell, and provide custody of cryptocurrencies. The decision is a reversal of the agency’s previous conservative approach to digital assets.

Rodney Hood, Acting Comptroller of the Currency, announced the change, stating that crypto is no longer a passing trend but a transformation of financial infrastructure. “We’ve confirmed that national banks and federal saving associations may engage in certain cryptocurrency activities responsibly, in order to serve their customers,” said Hood.

Banks Can Now Actively Offer Crypto Services

Banks are permitted to buy and sell cryptocurrencies in custody at the behest of the customer under the new guidance. They are also free to outsource both execution and custody services to third parties, provided those services comply with OCC risk management standards.

The following other crypto services are also permitted:

  • Record keeping
  • Tax reporting
  • Valuation and settlement
  • Facilitating fiat-to-crypto exchange

Banks may act as fiduciaries and sub-custodians, as long as they adhere to sound third-party risk management standards, the OCC said in its May 7 report.

Regulatory Harmony Among U.S. Agencies

The OCC’s move is part of a broader regulatory re-alignment. In April, the Federal Reserve withdrew regulations requiring state banks to notify regulators before engaging in crypto-related activities. It also rescinded guidelines that had restricted the use of stablecoins.

Similarly, the Federal Deposit Insurance Corporation (FDIC) and the OCC backed away from 2023 joint statements that had limited crypto transactions. The Securities and Exchange Commission (SEC) also removed this January a rule that had counted bank-held crypto as a liability.

The actions are amid heightened interest from crypto firms in acquiring bank charters to reduce borrowing costs and enhance operational legitimacy.

A Turning Point for Crypto-Banking Integration

This series of actions amounts to a remarkable shift in how the crypto sector is viewed by U.S. financial regulators. The OCC’s new guidance gives regulated banks the comfort and legal certainty to get more engaged in the digital asset economy.

While the industry is still under regulatory oversight, banks now have the green light to enter the crypto space responsibly, which marks a very important milestone in crypto’s acceptance within mainstream finance.

Tags: Blockchain
Chiwuike Owunwa

Chiwuike Owunwa

Chiwuike is a frontend programmer and writer with 3 years experience in the Web3. He's meticulous researcher, enthusiastic about Blockchain and the future of crypto, DeFi, and the Metaverse.

Related Posts

Arthur Hayes speaking about Bitcoin as Japan’s new Prime Minister announces economic stimulus measures

Arthur Hayes Predicts $1M Bitcoin as Japan’s New PM Unveils Economic Stimulus

October 22, 2025

Arthur Hayes predicts Bitcoin could hit $1M as Japan’s new PM Sanae Takaichi launches economic stimulus, signaling potential...

blockchain

Bolivia’s President-Elect Rodrigo Paz Turns to Blockchain to Fight Corruption

October 20, 2025

Bolivia’s new president Rodrigo Paz plans to use blockchain in public procurement and crypto asset declarations as part...

Metaplanet and Bitcoin Magazine logos, symbolizing their new partnership to expand operations in Japan.

Japan Moves Toward Allowing Banks to Buy Bitcoin Under New Regulatory Framework

October 19, 2025

Japan’s regulators are reviewing changes that could let banks buy and hold Bitcoin, signaling a major shift in...

24H HOLD token price chart showing 35% surge despite market pullback

Crypto markets surge as Trump confirms October 31 summit with Xi Jinping

October 19, 2025

Crypto markets rebound after Trump confirms October 31 summit with Xi Jinping, easing US-China tensions and sparking optimism...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service