US Banks Now Authorized to Trade Crypto for Clients: OCC Issues Confirmation

The Office of the Comptroller of the Currency (OCC) has confirmed that US banks can now engage in cryptocurrency trading for clients, marking a significant regulatory shift. This change allows banks to offer crypto services directly, bypassing previous approval requirements outlined in 2021 guidelines. The OCC’s confirmation follows the issuance of Interpretive Letter #1184, which clarified that banks can manage crypto-related activities without prior supervisory oversight. This move signals increased openness to digital assets within the banking sector and may lead to a wider adoption of cryptocurrency services by traditional banks.