In a significant development for the U.S. financial sector, the Office of the Comptroller of the Currency (OCC) has granted national banks the ability to engage in cryptocurrency-related activities, including custody, trading, and execution services, with the support of third-party providers. This decision, announced in May 2025, marks a major shift in regulatory policy, as banks are now allowed to offer these services without needing prior approval, as long as they maintain adequate risk management frameworks.
This move aligns with a broader trend where U.S. regulators are gradually shifting their stance on digital assets. Earlier in 2025, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) also rescinded prior guidance that discouraged banks from engaging with cryptocurrencies and stablecoins. These regulatory changes are part of a larger push to integrate digital assets into the mainstream financial system, with the OCC’s decision providing more clarity for banks seeking to participate in the growing digital asset space.
Industry experts have welcomed this shift. Katherine Kirkpatrick, General Counsel at StarkWare, emphasized that the OCC’s new guidance offers banks a clearer path into the crypto space, without the fear of facing regulatory penalties. This development is seen as an important step toward legitimizing the integration of cryptocurrencies into traditional banking services, which could foster more innovation and competition in the sector.
However, uncertainties remain. The Federal Reserve’s policies still suggest that holding cryptocurrencies could be considered risky for banks, which may create a regulatory gap for state-chartered banks that fall under its jurisdiction. This discrepancy between federal and state regulations could complicate the landscape for banks attempting to enter the crypto space, and further clarification from the Federal Reserve is anticipated.
Overall, the OCC’s decision represents a pivotal moment in the evolving relationship between traditional banking and digital assets. While there are still regulatory challenges to address, the move towards integrating cryptocurrencies into mainstream financial services is gaining momentum, signaling a more accommodating regulatory environment for digital assets in the U.S. financial sector.
