Fed, FDIC, and OCC Outline Crypto Custody Rules for Banks in New Guidance

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US banking regulators have clarified how traditional financial institutions can hold cryptocurrency on behalf of customers, stressing that existing safeguards apply.

In a joint statement, the Federal Reserve, FDIC, and OCC warned banks to manage risks—such as cybersecurity and private key security—while noting the guidance does not establish new requirements.

The agencies urged banks to adapt risk frameworks to crypto’s fast-changing landscape.

The statement follows recent regulatory updates, including the OCC’s green light for banks to trade crypto and the FDIC’s decision to ease advance notice rules for crypto-related services.