US Banks Get Green Light for Crypto Custody: New Rules Allow Trading and Outsourcing

The US Office of the Comptroller of Currency (OCC) has cleared banks under its jurisdiction to engage with cryptocurrency. In a letter released on May 7, 2025, Acting Comptroller Rodney Hood confirmed that banks can buy, sell, and trade crypto assets held in custody for their clients. They can also outsource some crypto-related activities to third parties, provided they comply with all applicable regulations. These banks are even permitted to utilize sub-custodian services and partner with independent nodes for verification. ”,