US Regulator Says Banks Are Allowed to Buy and Sell Customers’ Crypto

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National banks can now expand into crypto trading and custody services without prior OCC approval, per Wednesday’s interpretive letter.

The agency greenlit customer-facing crypto transactions and clarified that banks may partner with third-party providers for execution, safekeeping, and other services—provided they enforce strict risk management.

The move builds on March’s policy shift, which eliminated bureaucratic hurdles and explicitly endorsed services like fiat-crypto exchanges, settlement, and tax reporting.

The OCC also outlined safeguards for banks using sub-custodians to hold client assets.