Regulatory Alerts2025-05-07 | Interpretive Letter 1184Added
Clarification of Bank Authority Regarding Crypto-Asset Custody Services
The Office of the Comptroller of the Currency confirms that national banks and federal savings associations may buy and sell assets held in custody at the customer’s direction and may outsource crypto-asset custody and execution services to third parties. These activities must be conducted in a safe and sound manner, consistent with applicable law, and subject to appropriate third-party risk management practices. If acting in a fiduciary capacity, banks must comply with 12 C.F.R. part 9 or 150, as applicable.
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