The Office of the Comptroller of the Currency (OCC) states that banks have the right to engage in certain cryptocurrency activities

ChainCatcher News, the Office of the Comptroller of the Currency (OCC) has released the latest interpretive letter, clarifying that federally regulated banks can engage in cryptocurrency custody, stablecoin-related activities, and blockchain node operations without prior approval. The OCC also withdrew its 2023 statement regarding banks' cryptocurrency liquidity risks.

OCC Acting Comptroller Rodney E. Hood stated, "The OCC expects banks to have strong risk management controls in place that are consistent with traditional banking as they support new banking activities. Today's action will reduce the burden on banks engaging in crypto-related activities and ensure these activities are treated consistently under OCC supervision, regardless of the underlying technology. I will continue to work to ensure that regulation is both effective and not overly burdensome, while maintaining a robust federal banking system."