Express

OCC Allows US Banks To Offer Crypto Custody Services

Lily Yang

Summary: The Office of the Comptroller of Currency (OCC) announced yesterday in a public letter that all nationally chartered U.S. banks will be able to provide custody services for cryptocurrencies.  The Crypto industry used to rely on specialist firms that have a state-issued license to receive custody services. As OCC legitimizing banks-supported crypto custodian services, the ...

The Office of the Comptroller of Currency (OCC) announced yesterday in a public letter that all nationally chartered U.S. banks will be able to provide custody services for cryptocurrencies. 

The Crypto industry used to rely on specialist firms that have a state-issued license to receive custody services. As OCC legitimizing banks-supported crypto custodian services, the crypto industry comes to a major development.

However, banks who provide the services will have to comply with local regulations, as well as practicing some “sound risk management”.

By Lily Yang

Last Update:

Tags:
Link: OCC Allows US Banks To Offer Crypto Custody Services   [Copy]
  • The GENIUS Act & Stablecoin Regulation: BRG's Dominic Zagara on Crypto's Defining ... 2 days ago
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 5 days ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 6 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 9 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 10 days ago
  • You need to login to comment.