{"id":85928,"date":"2025-05-09T00:03:08","date_gmt":"2025-05-09T00:03:08","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/85928\/"},"modified":"2025-05-09T00:03:08","modified_gmt":"2025-05-09T00:03:08","slug":"occ-greenlights-banks-to-trade-crypto-on-behalf-of-clients","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/85928\/","title":{"rendered":"OCC greenlights banks to trade crypto on behalf of clients"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\">OCC clarified that U.S. banks could hold, trade, or let third parties handle clients\u2019 crypto assets.\u00a0<\/li>\n<li style=\"font-weight: 400;\">However, the permissible crypto activities must happen within applicable laws.\u00a0<\/li>\n<\/ul>\n<p>The U.S. Office of the Comptroller of the Currency (OCC) has clarified that banks can trade or custody crypto assets like <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> on behalf of clients.\u00a0<\/p>\n<p>According to an interpretive <a href=\"https:\/\/www.occ.gov\/news-issuances\/news-releases\/2025\/nr-occ-2025-42.html\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">letter<\/a> issued on the 7th of May, the regulator also noted that national banks could let third parties handle the above services with clients\u2019 permission.<\/p>\n<p>OCC doubles down on crypto<\/p>\n<p>Rodney Hood, the CEO of the OCC, added that banks could offer other services,\u00a0<\/p>\n<blockquote>\n<p>\u201cThese banks may provide other custody services, including record keeping, tax, or reporting services for their customers. OCC banks may use a sub-custodian to provide the same services.\u201d<\/p>\n<\/blockquote>\n<p>The update comes after another <a href=\"https:\/\/ambcrypto.com\/u-s-banks-can-now-legally-handle-crypto-and-stablecoins-says-occ\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">guidance<\/a> in March, which greenlighted banks to handle crypto assets and stablecoins.\u00a0<\/p>\n<p>Interestingly, the March supervisory memo also rescinded a previous restrictive stance against the digital assets sector that has been in place since 2021.\u00a0<\/p>\n<p>Overall, the pro-crypto shift is now a growing trend under the President Donald Trump Administration.<\/p>\n<p>Reacting to the OCC\u2019s latest update, the U.S. House Committee on Financial Services, led by Republicans, applauded the move. It pledged support for the crypto market structure bill and <a href=\"https:\/\/x.com\/FinancialCmte\/status\/1920277600502759664\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">read<\/a>,\u00a0<\/p>\n<blockquote>\n<p>\u201cMembers look forward to continuing the work needed to develop a digital asset framework that drives innovation and builds upon the success of the Trump Admin\u2019s pro-growth, pro-innovation agenda.\u201d<\/p>\n<\/blockquote>\n<p>Nevertheless, OCC\u2019s Hood reiterated that the regulator expected all permissible crypto activities to happen within set rules. He added,<\/p>\n<blockquote>\n<p>\u201cI want to be clear that the OCC expects these activities to be conducted in a safe and sound manner, and in compliance with applicable law.\u201d<\/p>\n<\/blockquote>\n<p>That said, <a href=\"https:\/\/ambcrypto.com\/category\/stablecoins\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">stablecoins<\/a> appear well-positioned to benefit from this massive shift, and by extension, this could set the stage for the disruption of the traditional banking system.\u00a0\u00a0<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/bitcoin-realized-cap-hits-890b-a-stepping-stone-to-100k\/\" rel=\"prev noopener\" data-wpel-link=\"internal\" target=\"_blank\">Bitcoin realized cap hits $890B: A stepping stone to $100K?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"OCC clarified that U.S. banks could hold, trade, or let third parties handle clients\u2019 crypto assets.\u00a0 However, the&hellip;\n","protected":false},"author":2,"featured_media":85929,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-85928","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114474949258755594","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/85928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=85928"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/85928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/85929"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=85928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=85928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=85928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}