Overview

• The Office of the Comptroller of the Currency (OCC) announced that federally regulated banks can engage in certain cryptocurrency activities without prior regulatory approval.
• Permitted activities include crypto-asset custody, stablecoin-related operations, and participation in distributed ledger networks.
• The new guidance rescinds previous rules requiring banks to clear crypto activities with regulators and demonstrate risk management plans in advance.
• Acting Comptroller Rodney Hood emphasized that banks must still maintain robust risk management controls for both traditional and crypto-related activities.
• This policy shift marks a rollback of stricter guidance issued during the Biden administration, which had cautioned against potential volatility and financial stability risks in the crypto sector.