US Regulator Announced: Customers' "Custody" Cryptocurrencies Can Be Bought and Sold! - Coin Bulletin

The U.S. banking regulator, the Office of the Comptroller of the Currency (OCC), announced that banks can directly buy and sell their customers’ cryptoassets in custody services and work with third-party companies for transactions.

One of the top banking regulators in the US, the Office of the Comptroller of the Currency (OCC), made an important announcement that opens the way for banks in the cryptocurrency sector. The OCC stated that banks can engage in cryptocurrency trading based on their customers’ requests and can seek services from external expert companies during this process.

The new statement from OCC is a continuation of the decision made in March to lift the regulatory approval requirement for banks’ crypto activities. It is noteworthy that the institution, which previously imposed strict regulations, is now providing banks with a broader scope of action in crypto activities.

The hands of banks are getting stronger

OCC’s new policy is also offering great opportunities to regulated third-party companies in the crypto sector. Katherine Kirkpatrick Bos, Chief Legal Officer of Starkware and former legal director of Cboe Digital, commented in a post on social media platform X, “This move clearly shows that OCC has changed its stance on integrating crypto into the traditional banking system.”

The U.S. Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC), like other major regulatory bodies, had previously made statements supporting OCC’s positive stance on crypto. With this new flexibility in banks’ crypto activities, the U.S. banking sector is expected to increase its transactions related to cryptoassets in the near future.