The OCC Tells Cryptocurrency Holders to Take It to the Bank: National Banks and FSAs Can Now (Definitively) Provide Custodial Services for Cryptocurrency
By Judith Rinearson, Jeremy McLaughlin, and Daniel Cohen
On 22 July, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming that national banks and federal savings associations (collectively, banks) can offer custodial services for cryptoassets because “providing cryptocurrency custody services…is a modern form of traditional bank activities related to custody services.”
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