The Office of the Comptroller of the Currency (OCC) has confirmed that some cryptocurrency activities are now allowed for banks and federal savings associations.
The OCC announced this change through Interpretive Letter 1183, which says banks can now handle crypto-asset custody, manage stablecoins, and join networks like distributed ledger systems.

The OCC also made it clear that these activities should be treated the same way as traditional banking services. Acting Comptroller Rodney E. Hood explained, “The OCC expects banks to have the same strong risk management controls in place to support novel bank activities as they do for traditional ones.”
He added that this change would help reduce the burden on banks and ensure consistency in how these activities are handled. Hood further said, “I will continue to work diligently to ensure regulations are effective and not excessive, while maintaining a strong federal banking system.”
Along with this clarification, the OCC also withdrew its participation in two earlier joint statements that warned about crypto risks for banks.
Also Read: FDIC Opens Doors for Banks to Engage in Crypto Activities