Banks Can Offer Cryptocurrency Custody Services After Major U.S. Regulatory Shift

The U.S. Office of the Comptroller of the Currency (OCC) has paved the way for banks to provide cryptocurrency custody services to their clients. This landmark decision allows financial institutions to offer a range of services, from safekeeping Bitcoin and other digital assets to buying and selling them on behalf of customers, along with record-keeping, tax reporting, and more. The OCC emphasizes that this move signifies a shift towards mainstream adoption, stating that digital finance is now firmly ingrained in the financial landscape.