The US Workplace of the Comptroller of the Foreign money (OCC) has confirmed banks underneath its jurisdiction can commerce crypto on behalf of shoppers and outsource some crypto actions to 3rd events. 

Performing comptroller Rodney Hood stated in a Might 7 letter that banks and federal financial savings associations should purchase and promote crypto they maintain in custody at clients’ route.

The OCC added in a press launch that monetary establishments may outsource bank-permissible crypto actions, together with custody and execution providers, to 3rd events in compliance with relevant legislation.

“Additionally, these banks may provide other custody services, including record keeping, tax or reporting services for their customers,” Hood stated in a Might 7 video posted to X. 

OCC-regulated banks might purchase and promote property held in custody and are permitted to outsource bank-permissible crypto-asset actions, together with custody and execution providers. https://t.co/0ScQdgNaS6 pic.twitter.com/J5dEkx4WUL

— OCC (@USOCC) Might 7, 2025

“OCC banks may use a sub-custodian to provide the same services subject to appropriate third-party risk management practices, while a range of cryptocurrency and digital asset activities may be performed by banks and their third parties,” he added. 

Beforehand, the OCC eased its stance on how banks can have interaction with crypto on March 7 by giving the inexperienced mild for crypto-asset custody, some stablecoin actions, and participation in unbiased node verification networks comparable to distributed ledgers. 

“More than 50 million Americans hold some form of cryptocurrency. This digitalization of financial services is not a trend; it is a transformation,” Hood stated. 

The OCC is an unbiased bureau throughout the US Division of the Treasury that regulates and supervises all nationwide banks and likewise the federal branches of overseas banks.

Business helps the OCC letters 

Katherine Kirkpatrick Bos, normal counsel at ZK-rollup developer StarkWare, stated the letters sign a “shift in the OCC’s approach,” which now seems to favor a give attention to integrating crypto inside banking frameworks. 

“More guidance will give further clarity [and] will allow banks to re-enter crypto [without] the fear of existential regulatory risk,” she stated. 

She added the OCC’s “explicit permission today allowing banks to outsource bank-permissible crypto-assets is a boon to regulated crypto native service providers.” 

Chief coverage officer at crypto trade Coinbase, Faryar Shirzad, additionally applauded the transfer, saying in a Might 7 publish to X, Hood’s dedication to “regulatory clarity, as well as his adherence to supervisory best practices and the letter of the law,” is appreciated. 

The Trump administration has taken a friendlier perspective towards crypto since coming into energy in January. 

Associated: The teachings discovered at Operation Chokepoint 2.0 Congressional hearings

In April, the US Federal Reserve introduced it was withdrawing steering that was created to discourage banks from partaking in crypto and stablecoin actions.

US President Donald Trump additionally signed a joint congressional decision on April 11, overturning a Biden administration-era rule that may have required decentralized finance protocols to report transactions to the Inside Income Service.

Journal: SEC’s U-turn on crypto leaves key questions unanswered