The US Office of the Comptroller of the Currency (OCC) has authorized national banks and federal savings associations to offer cryptocurrency custody and management services to their customers. This decision, spearheaded by Acting Comptroller Rodney Hood, clarifies the regulatory landscape for banks engaging with digital assets.
Previously, banks were discouraged from fully participating in the cryptocurrency space. This OCC guidance represents a significant shift in policy under the Trump administration, effectively reversing the more cautious approach of the previous administration. The move opens doors for wider adoption of cryptocurrencies by providing a regulated and trusted avenue for holding and managing digital assets. This could potentially attract more mainstream investors and further legitimize the cryptocurrency industry within the US financial system.
